California to address pension spiking loopholes
The practice of pension spiking was highlighted by the recent revelation that former Upland, California, city manager Robb Quincey made $460,000 last year. Pension spiking occurs when public employees manipulate overtime, unused vacation days and other forms of compensation in order to pad their retirement pay.
In comparison, the chief operating officer of San Diego made just under $270,000 in 2009, despite the fact that the city is approximately 17 times larger than Upland, according to Bloomberg.
California legislators are currently drafting legislation to address loopholes in the law that allow spiking and double dipping, which occurs when government retirees take jobs on the public payroll and still collect a pension. A bill sponsored by Democrat Assemblyman Warren Furutani of Long Beach will exclude variables such as housing and vehicle allowances, unscheduled overtime, severance pay, unused vacation time and sick leave from being included in retirement calculations.
"We've had some real bad apples that have manipulated the system for their benefit, and we are moving to correct it," Furutani told the news source.
The Upland City Council unanimously voted to fire Quincey earlier this month for breach of employment agreement and failing to follow council direction.
In comparison, the chief operating officer of San Diego made just under $270,000 in 2009, despite the fact that the city is approximately 17 times larger than Upland, according to Bloomberg.
California legislators are currently drafting legislation to address loopholes in the law that allow spiking and double dipping, which occurs when government retirees take jobs on the public payroll and still collect a pension. A bill sponsored by Democrat Assemblyman Warren Furutani of Long Beach will exclude variables such as housing and vehicle allowances, unscheduled overtime, severance pay, unused vacation time and sick leave from being included in retirement calculations.
"We've had some real bad apples that have manipulated the system for their benefit, and we are moving to correct it," Furutani told the news source.
The Upland City Council unanimously voted to fire Quincey earlier this month for breach of employment agreement and failing to follow council direction.
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