New York became the latest state to shine a light on the practice of pension "spiking"—big increases in a government worker's salary just before retirement to boost the lifelong pension payout.
New York Attorney General Andrew Cuomo said Thursday his office was investigating what he called "manipulation" of government workers' salaries and overtime pay to increase their pensions, which are mostly calculated based on the final years of income. Mr. Cuomo called the moves a burden to taxpayers.
Thursday, March 18, 2010
Cuomo Probes Pension 'Spiking'
The Wall Street Journal reports:
