Twenty California counties, including Ventura, Kern, Los Angeles, Orange and San Diego, allow some workers to make more in retirement than they did while working. The coffers are underfunded by millions of dollars.
By Catherine Saillant, Maloy Moore and Doug Smith, Los Angeles Times
March 3, 2012
Approaching retirement, Ventura County Chief Executive Marty Robinson was earning $228,000 a year.
To boost her pension, which would be based on her final salary, Robinson cashed out nearly $34,000 in unused vacation pay, an $11,000 bonus for having earned a graduate degree and more than $24,000 in extra pension benefits the county owed her.
By the time she walked out the door last year, her pension was calculated at $272,000 a year — for life.
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