The bill’s sponsor, state Controller John Chiang, and others say it has become so watered down that it would do little to prevent public employees from spiking their end-of-career paycheck.
By Catherine Saillant, Los Angeles Times
August 18, 2010
Legislation intended to curb pension spiking has become so watered down that it would now do little to prevent California public employees from boosting their end-of-career paychecks, critics say, prompting reform advocates and bill sponsor state Controller John Chiang to withdraw support.
Assembly Bill 1987 had been touted as an end to the pension boosting that occurs when public employees add unused vacation, sick time and other benefits to their final year’s compensation in order to drive up pensions.