'Outrageous' pension double-dipping triggers criminal investigation into California cops

[TexasTowelie]

A California Public Employees’ Retirement System audit says three police chiefs and a police commander in a small community just outside of San Francisco defrauded the giant pension system for a decade, collecting retirement benefits while working full-time jobs.

The alleged fraud detailed by CalPERS includes two chiefs working in the Broadmoor police district after receiving disability payouts, covering-up full-time work in order to collect retirement benefits and in one of the chief’s cases, returning to active duty, then becoming an annuitant again, to enhance benefits.

CalPERS said one pensioner, identified as former Police Chief David Parenti, increased his yearly pension retirement by nearly $60,000 a year, going from $93,000 a year to $152,292 a year by coming out of retirement, working for 13-months and then retiring again.

But the pension plan said Parenti was never actually retired. He continued to draw more than $6,000 in salary per two week-pay period in addition to the pension benefits.

He also received a $100,000 disability benefit for unspecified injuries and another approximate $100,000 payment that couldn’t be explained.

Read more at: https://www.sacbee.com/news/politics-government/the-state-worker/article256758687.html

[CaliforniaPeggy]

1. This sure is outrageous.

"To protect and serve" now means themselves, not us, the public.

[TexasTowelie]

2. They should be criminally prosecuted for fraud.

However, if they somehow avoid criminal sanctions, the alternative of forfeiting their pensions would serve as effective deterrent for anyone else who might decide to follow in their footsteps.

[CaliforniaPeggy]

3. I absolutely agree! On both counts.

It sure would hurt to have to give up all that money!

[2naSalit]

4. Should also have to pay it all back.

[quaint]

5. +++

[Mr.Bill]

6. The retirement benefits for Police and Firemen

are obscene in this state. At 30 years, they retire at 90% salary, and we, the voters voted for that. I have brother-in-law that is a retired fireman. I know these people work hard and risk their lives, but so do lots of other occupations. His monthly retirement check is over $10,000 after taxes are taken out. He retired in his mid 50s. He may very well wind up being paid more money in retirement than he made while working. If only Social Security worked like that.

To be fair, they do pay into this fund when they are still working, but not an amount that generates that kind of retirement pay. The CalPers funds are invested like any retirement funds usually are. The sweetest part of the deal is if the stock market crashes, or the investments go bad in some other way, the taxpayers of California are responsible for making up the shortage. And yes, we voted for that, too.