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California state employees take advantage of pension perk

Feb 15, 2011 10:38:00 PM - latimes.com
State allows employees to increase retirement benefits by buying up to five fictitious years — known as 'air time' — to add to their public service. Financial advisors call it a great deal for retirees but bad for taxpayers.

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.

USA, California: (Latest Stories)