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> Can someone explain how pensions are calculated? How do they get so high? It's based on peak earnings, including overtime: http://dailycaller.com/2014/06/20/

by jbarham 10y ago

> Can someone explain how pensions are calculated? How do they get so high? It's based on peak earnings, including overtime: http://dailycaller.com/2014/06/20/california-public-employees-making-bank-on-pensions/ http://dailycaller.com/2014/06/20/california-public-employee... So naturally California public employees will rack up huge amounts of overtime in their final year of employment. > Also, what is the purpose of such high pension promises? Well funded public sector employee unions donate huge amounts to Democrat politicians and strongly encourage their members to vote for the same. More simply, it's outright corruption. > Does the government really have such a high talent retention problem? Based on my visits to the California DMV, no.

acchow 10y ago
It's based on peak earnings, including overtime This seems beyond broken. You can double your pension forever by working extra hard for 1 year?
trhway 10y ago
>It's based on peak earnings, including overtime: http://dailycaller.com/2014/06/20/california-public-employee.. http://dailycaller.com/2014/06/20/california-public-employee.... plus saved vacation and sick days, including carryover from all the previous years. The number of such saved carried over days are usually not capped. As result the last year total may easily double the previous years yearly income. It is called "spiking".