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If BART is like other public sector jobs in California, his pension will be based on some percentage of his average pay, including overtime, for his last few ye
by xienze 10y ago
If BART is like other public sector jobs in California, his pension will be based on some percentage of his average pay, including overtime, for his last few years of employment. Say hello to the $200K per year retired janitor.
Yeah, California won't have a pension crisis in the coming years...
- greglindahl 10y agoYes, this is a common problem with "final salary" pension schemes that include overtime: coworkers and supervisors are willing to help out folks about to retire.
- pstuart 10y agoa.k.a. pension spiking
- gnopgnip 10y agoDoes it matter because all pensions are self funded?
- cobookman 10y agoIt does if they ask the tax payers to bail them out.
- prostoalex 10y agoSince when? This keeps happening every few years http://www.latimes.com/local/education/la-me-schools-pensions-20140521-story.html http://www.latimes.com/local/education/la-me-schools-pension...
- jiqiren 10y agoIt is not the last few years. It is whatever the highest average range was over a period of 12-36 months. Source (look at Final Compensation in the Retirement Calculation Formula subheading): https://www.calpers.ca.gov/page/active-members/retirement-benefits/service-disability-retirement https://www.calpers.ca.gov/page/active-members/retirement-be...