In a hope-inspiring move, the House State Affairs Committee has unanimously passed a bill that keeps their own from gaming the system and raking in a huge retirement at our expense.
Here’s how it works right now: Starting back in 1990, they passed a bill that made a “special” rule for themselves. They can boost their retirement way up by taking a high-paying state job right at the end of their career, and they’ll get the PERSI retirement at the high level, as if they had been working that job the whole time. Ridiculous! How did this ever get passed? I guess WE, the People, were not watching.
Anyway, now there’s a bill to correct that “special” rule and make their retirement payment based on exactly what they actually earned…what a concept!
Here’s the link to Betsy Russel’s article on this topic.