Help

BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.

To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.

To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.

Login Register Subscribe

CalPERS reports rising number of pensions that exceed IRS dollar limit

Reprints

About 1,700 California Public Employees Retirement System pensions are so large they exceed an Internal Revenue Service limit and siphon money away from government employers, according to new figures from the retirement system, reports The Sacramento Bee. The IRS sets an annual cap – this year it’s $245,000 – above which public pension payments must be treated as wages, subject to the same withholdings and deductions. The extra-large pensions are growing more numerous in California, creating added costs for the cities and counties who must pay for them.

Read more