The Current FReepathon Pays For The Current Quarters Expenses?
Posted on 04/08/2014 8:04:50 AM PDT by Oldeconomybuyer
Tens of thousands of state workers stand to get extra money in the next couple months by cashing out some of their unused leave time – assuming the state can find money to cover it.
California owes billions of dollars to state employees for unused paid time off, a largely unseen burden that isn’t regularly tracked or reported statewide. Last year the nonpartisan Legislative Analyst’s Office said the state’s leave liability totaled $3.9 billion as of June 2012 – and it’s growing.
(Excerpt) Read more at sacbee.com ...
I’d almost be willing to bet that those CALPERS employees do not have an accrual sick leave policy. IOW, they use the unaccounted sick policy as vacation.
Many private companies dropped this option years ago.
But when you’re using taxpayer’s money, party on!
Cali has some impressive retirement benefits.
I remember reading how many govt retirees make over 100 grand and 200 grand per year.
The Current FReepathon Pays For The Current Quarters Expenses?
If the state used generally accepted accounting principles, then this liability would be reported and openly seen on financial reports.
That’s half the battle right there, in my opinion, as they state that this liability is not tracked or reported, and apparently is “off the books”. But it’s still an outstanding legal debt of the government, and should be on the books.
Anyone know whats going on July 1, 2014? Drove by the longshoreman building in long beach and they have a big sign and date asking if you are ready?
They going on strike again?
Cali has some impressive retirement benefits.
I remember reading how many govt retirees make over 100 grand and 200 grand per year.
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California simply needs a “use it or lose it” law/regulation (at the end of the year the employee can only “carry over” to the new year a maximum amount of leave—any balance above that maximum each year is lost) and they need to ENFORCE IT.
Oh...on second thought forget about it; I just remembered that the California taxpayers work for and serve the government employees and not vice versa.
I’d almost be willing to bet that those CALPERS employees do not have an accrual sick leave policy. IOW, they use the unaccounted sick policy as vacation.
**That’s exactly what they do, have a neighbor who confirmed that’s common practice.
Many state governments and private companies have a “use-it-or-lose-it†policy on vacation days. A friend of mine in HR at the local state university told me that each year about one-third of the staff have unspent vacation days at the end of each year that they lose.
Every company has a use it it or lose it policy. The state workers use this as a way to boost their retirement pay that WE pay for.
What’s more absurd is that the value of unused leave is factored in to the already ridiculous pension calculation. They call it pension spiking.
My cousins husband works for a Calif state university (computer professor) and when I brought up this problem about sick days. He was kinda incensed saying he deserved the money. He wasn’t sick mind you but viewed those days as something he deserved.
That is the attitude that will and has bankrupted cites.
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