CalPERS leader will get 18 months of salary to decide what he wants to do next
Instead of retiring, a two-term CalPERS member will go on vacation, collect his $122,000 salary and get a raise while he figures out what to do next.
J.J. Jelincic accumulated 18 months worth of paid time off over his 31-year career at the California Public Employees’ Retirement System, he said.
It’s a perquisite he’ll gradually draw down as he considers whether he’d like to run again for election to the CalPERS Board of Administration or return to his staff job there as an investment officer.
Another year on the payroll combined with the raises that investment officers received last year through the latest SEIU Local 1000 contract mean that Jelincic’s pension will increase while he delays a decision on retiring. He said the difference would be about 6 percent.
Read more here: http://www.sacbee.com/news/politics-government/the-state-worker/article192755069.html
