Sunday, July 10, 2011

Educators' late-career pay raises strain CalSTRS pension system

The Sacramento Bee reports:
Pay raises of 10, 20, even 45 percent.

These are the kind of year-to-year bumps many workers dream about but never see. They are also the kind of pay raises many of the region's highest-paid educators do get, just before retirement.

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.

Working class heroes.