FOR IMMEDIATE RELEASE
Sept. 10, 2012
Contact: Julie White, firstname.lastname@example.org, (916) 329-3832
State Controller John Chiang released a review on efforts by the California State Teachers Retirement System to reduce pension spiking. Following is ACSA’s statement on the findings.
“ACSA has always been opposed to any abuses of public employee pension systems and supports efforts to curb pension spiking and other forms of pension fraud,” said ACSA Interim Executive Director Karen Stapf Walters.
“CalSTRS has made great strides in improving its efforts to flag and intercept suspected abuses. However, these improvements were not reflected in the controller’s study, which was completed prior to the launch of the new controls late last year.
“While ACSA takes pension spiking very seriously, the fact remains that it is the exception, not the norm. Most retired educators are honest, hard-working public servants who follow the law and receive a modest income post-retirement. ACSA hopes that the abuses of a select few does not negatively impact the retirement security of the thousands of dedicated educators who spent their careers serving the students of California.”