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 [1]