...agencies such as BART, the Association of Bay Area Governments...lavishing more than 99 percent of their employees with pension pickups of 100 percent...
'Pension pickup': Bay Area taxpayers foot the bill for little-known perk By Thomas Peele and Daniel Willis; Mercury News
Excerpt:
“This often hush-hush benefit negotiated during rosier economic
times can put thousands of extra dollars in public employees' paychecks by
relieving them of costly payroll deductions. But the practice can get so
expensive for local governments that last year state lawmakers banned agencies
that belong to the giant California Public Employees Retirement System from
offering pickups to anyone hired after Jan. 1, 2013. Reforms led by Gov. Jerry
Brown are designed to get workers to pay a higher share of their retirement
costs. The state retirement system for teachers has never allowed the practice.
That hasn't stopped agencies such as BART, the
Association of Bay Area Governments and towns such as Portola
Valley, Scotts Valley and Hollister from
lavishing more than 99 percent of their employees with pension pickups of 100
percent. Last year, BART spent $17 million covering what employees were
supposed to be contributing to their pensions.” (emphasis added)
Read More from the original article... Emailable PDF of this excerpt