By Sharyn L. Decker
Lewis County Sirens news reporter
An Associated Press investigation has found numerous instances of questionable temporary salary boosts for retiring fire and police officials, carefully crafted to inflate pensions in a practice that may end up draining the taxpayer funded, state-run pension plan of million of dollars.
News reporter Mike Baker writing in the Yakima Herald-Republic gives an example of veteran managers at Lakewood Fire District 2 whose annual salaries jumped by $20,000 days before retirement to nearly $200,000, a move that increased their lifetime retirement payments by more than $1,000 per month.
So-called “pension spiking” is prohibited under rules adopted by the Department of Retirement Systems, but the LEOFF-1 – Law Enforcement Officers’ and Firefighters’ Retirement System Plan – operates with some unique provisions, according to Baker.
Read about it here
What do you expect? Public agencies don’t ever have to worry about profit/loss statements or spending within their means because they can always get tax hikes to pay for whatever they want.
Shoot, Brian Sonntag spent his entire time as State Auditor trying to get the DOT to open their books with no success. Since when does an agency beholden to taxpayers (and we DO pay their salaries…and benefits…and expenses…and pensions) have the right to not let the people see how they’re spending our money? Yet the DOT gets away with it because nobody in power will stand up to them.