The California Teachers Association is opposing a bill that would ban egregious pension-spiking techniques, insisting that it apply only to future employees. Here's a good piece on it from John Fensterwald who details the proposed reform, which includes limits on excessive increases to teacher pay in final years. No wonder the CTA is opposed to this reform. Per the Sacramento Bee article reference in Fensterwald's column:
Nearly half of the 225 Sacramento-area retirees drawing six-figure pensions from the California State Teachers' Retirement System received at least a 10 percent pay increase in one of their final three full years on the job, according to a Bee analysis of state retirement data.
Those last-minute boosts will have lasting impact. CalSTRS bases the lifetime pensions of workers with more than 25 years of service credit on their highest-paid year.
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