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Californian’s $609,000 Check Shows True Retirement Cost
California employees accounted for 39 percent of that total. Since 2005, the state’s workers collected $1.4 billion for accumulated leave, calculated at their last pay rate, regardless of when the time was accrued. New Jersey Governor Chris Christie calls such payments “boat checks” because they can be large enough to buy yachts. “The people making decisions are clearly letting this happen,” said Steven Frates, research director of Pepperdine University’s Davenport Institute on public policy, based in Malibu, California. “It starts with the governor and the legislature and wanders down the line. These ... (full story)
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