Havre Daily News - News you can use

'Pension spiking' costing beleaguered Montana system

 


HELENA — Auditors looking at the state's beleaguered pension system said Thursday they have found cases where salary hikes just before retirement spiked pension payments.

Legislative auditors say a sample of retired employees found dozens of cases where unexpected salary hikes at the end of a career drove up the payouts despite controls in place aimed at limiting such "pension spiking." Just eight specific cases analyzed by auditors found the inflated pensions cost the state $1.75 million.

The auditors reported to a legislative interim committee that the practice appears limited and doe...



For access to this article please sign in or subscribe.

 

Reader Comments(0)

 
 

Powered by ROAR Online Publication Software from Lions Light Corporation
© Copyright 2021

Rendered 10/15/2021 13:43