Supervisor: Hefty Retiree Payouts Put LA County Budget, Pension Funds At Risk
LOS ANGELES (CBS) — Thousands of Los Angeles County workers who collected a reported $48 million in unused vacation pay could dramatically impact both the county’s budget and pension funds, according to county officials.
KNX 1070’s Vytas Safronikas reports the Board of Supervisors is outraged over a new report showing dozens of retirees receiving hefty compensation packages.
The Los Angeles Times reported on one Los Angeles County Sheriff’s Lt. Marie Hannah who retired with a $143,000 annual pension and a one-time payment of $183,683 for unused time off.
The package was reportedly for a combination of 325 days of vacation pay, sick time, comp time and holidays, the Times reported.
Now county officials are warning such extravagant payouts could put the county’s fiscal health at risk.
“It has an impact on the current budget, as it will have a direct impact on liability of the pension fund,” said Supervisor Mike Antonovich.
Antonovich recommended taking action either directly through administrative measures or through labor negotiations to tackle the problem.
Most employers restrict how much comp time can be accrued by any single employee, but the report is a clear reminder that abuse isstill rampant.
“The board is concerned that this is an abuse that is out of control,” Antonovich said.