News Room: SB 27: Pension Spiking

Legislation to curb “pension spiking” in the state’s two largest pension systems has been passed by the State Senate. Senate Bill 27, by State Senator Joe Simitian (D-Palo Alto), addresses pension spiking, the practice of boosting an employee’s final salary shortly before retirement. Simitian’s legislation applies to the California Public Employees’ Retirement System and the California State Teachers’ Retirement System. read more ...