A stop sign exists between the three highly paid administrators in Bell and the ability to draw their state pensions.
According to a report from Marc Lifsher in the Los Angeles Times, the former Bell administrators will not be permitted to draw their pensions until the attorney general determines whether or not they broke the law.
“CalPERS is concerned about the situation, and our intention is to not [to] entertain applications for pensions from any of these people until the investigation is complete,” Pat Macht, the agency’s external affairs director, told the Times.
From The Times:
In retirement, Rizzo would become the highest-paid retiree in the California Public Employees’ Retirement System, the state’s big pension system. He would earn more than $600,000 a year for the rest of his life, according to calculations made by The Times and reviewed by pension experts.
Rizzo would be the highest-paid person in the state’s pension system and Adams, who would receive an estimated $411,000, would be the third-highest paid.
Read the full story here.