2 ms·
highest salary per year of service WHAT? Why not the average? This is crazy. you shouldn't be able to just revoke that when you realize you promised too muc
by acchow 10y ago
highest salary per year of service
WHAT? Why not the average? This is crazy.
you shouldn't be able to just revoke that when you realize you promised too much.
So I've read more about it, and turns out this isn't the problem. They are retroactively INCREASING the pension numbers to existing employees to something higher than what they signed up for.
See also https://www.city-journal.org/html/pension-fund-ate-california-13528.html https://www.city-journal.org/html/pension-fund-ate-californi...
- jcranmer 10y ago> WHAT? Why not the average? This is crazy. Inflation. If you work for, say, 30 years at 2% annual inflation, that comes out to about 81% total inflation by the end of it--that makes weighting early years the same as later years completely untenable.
- areyousure 10y agoThen weight the average by inflation? That's not why they use the maximum ...