"Until a pension reform six years ago, CalPERS and CalSTRS members could boost their pensions by buying credit for up to five years of service without doing the work, thus the name 'air time.' ... Could cash or another debt-free incentive for early retirement be as effective as air time, if reducing or avoiding layoffs during a staff reduction is a goal? The question is not asked in the CalPERS and CalSTRS golden handshake programs."  MORE >>