Iowa moves to stop workers from "spiking" pension payments

Iowa is looking to curb a practice known as "spiking," in which state employees volunteer for large amounts of overtime in their last years before retirement in order to qualify for higher pension payments. The state, facing a $5.9 billion pension shortfall, now requires that pensions be based on the average of an employee's highest five years of pay instead of on their highest three years of pay.

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Des Moines Register (Iowa) (tiered subscription model), The

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