I appreciate the exposing of spiking, which I think is deplorable, but I also find it equally troubling to have someone convey the impression that this is a general and widespread problem, without making a better empirical case for that impression.

You also state, “In other words, extras like “unused vacation and sick leave” were officially off limits.”

Please cite a document at CalPERS that lists “overtime, vacation time and similar benefits” or “unused vacation and sick leave” among the items approved by CalPERS as pensionable. I sure can’t find it. Instead, I find incentive pay and premium pay for people doing tasks beyond normal duties or providing skills, certifications, and training beyond what is required for the job.

“WALL STREET JOURNAL SAID”

Wall Street Journal said CalPERS “tried to end run the law by including 99 other salary boosters”

Wall Street Journal said ” If only journalists could earn bonuses for writing.”

I say, “If only journalists could actually research and verify their stories instead of jumping on the bandwagon.”

CalPERS does NOT HAVE THE POWER to include any “salary boosters”. These pay categories were created by management and approved by the legislature. And they are not ” spiking”.

This isn’t a bad month for CalPERS, it’s an embarrassing month for journalism. Present company included.

Big deal. All these Demoncrat politicians are corrupt and owned in one way or another by the public unions.

They will borrow ever more money and bleed the taxpayers white before the ever truly reform pensions.

Would those greedy globalists like to get there greasy mitts on that wad!

This isn’t bad news for CP , it’s good news.

The fund will be even more fit!

Once again– God Bless our sharp Gov!!!!