California state employees take advantage of pension perk

The L.A. Times reports:

Tens of thousands of California state workers are taking advantage of a perk that pays them pension benefits for years they don't actually work, and reformers looking for places to cut have put it at the top of the list.

State law allows the employees to increase their retirement benefits by tacking up to five fictitious years — known as "air time" — onto their public service. Although they pay a fee for the privilege and officials say it is high enough to cover the eventual payouts, critics of air time note that the boost can cost taxpayers millions when the state pension system's investment income falls short, as it has in recent years.

Barack Obama wants you to bailout these overpaid government workers.