What is “pension fund spiking” ?
Your pension level (annual) is based on the average of your last three years. Many cash in unused days, which counts in the calculation. Some folks save up a years worth of days.
Folks walk away making more per month in retirement than they did when they were working. Common in California especially.
In the case of spiking for this article they are basing it on the union reps salary and not the teacher salary. What that means is they step away from the school to work for the union at higher pay. Then their pension is based on the amount the union paid them. Which in some cases is over 200,000 dollars. This is instead of the 50 to 70 thousand they could make as a teacher.