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Saturday, August 14, 2010

The mystery of Jerry Brown’s pension

Just as Californians are becoming aware of outrageous salary and pensions being paid to government employees (see Bell), it turns out that Jerry Brown is one of a handful of government pensioners who are getting a special pension that the people thought had been abolished years ago.

As Jerry Brown grabbed the spotlight with his criticism of Bell city officials and their outrageous pensions, The Watchdog got to wondering: How much will the Democrat for Governor make in retirement?

That, as it turns out, is a very difficult question to answer. After more than a month of investigation, the Watchdog can only say for certain that Brown and a handful of other top officials are eligible for generous benefits under a special pension fund so obscure that few people in government know how it works and many thought it had been eliminated 20 years ago by outraged voters.

Under the law, Brown should have accrued, at most, 16 years of service credit in this special fund, known as the Legislators’ Retirement System, or LRS. Actuarial statements produced by LRS, however, indicate that an unnamed person of Brown’s age and earning Brown’s exact salary has been credited with 25 to 29 years of service. The difference would mean tens of thousands of dollars in additional pension payments for Brown each year.

Brown’s campaign staff acknowledge the unnamed person sure looks like the gubernatorial candidate but have been unable to explain the discrepancy over service. ...
As best as we can tell, Brown would be eligible for an annual LRS pension of $73,720 if he has 16 years of service. If, somehow, he has 25 or more years, it would be $110,580.
This can't help Brown in the election.

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