Despite pleading no contest to all 69 counts of corruption, ex-Bell City Manager Robert Rizzo is posed to keep his retirement account and pension fund.
According to the Los Angeles Times, city officials are prevented from going after these assets.
Rizzo amassed much of his wealth—including over $1 million in the 401(k)-style retirement account—through his self-appointed exorbitant salary, which stands at the center of the Bell controversy in 2010.
“It’s mind-boggling that after so much he did that he’s still able to receive money from the city because of the pension,” Bell Councilman Ali Saleh said to the Los Angeles Times. “He’s done dramatic damage to our city.”
Based on Rizzo’s inflated salary, his original pension clocked in at over $600,000 a year. CalPERS responded to the fallout by slashing the pension to just $50,000 but through a series of legal challenges, Rizzo was able to secure a raise to $116,000 a year last January.
Read the full article at the Los Angeles Times.