My, my, look who's looking at salary spiking -- O P & F!

From John Curry, March 10, 2009

STRS prohibits it, O P&F is looking at it, but...what about OPERS! This time, they (OPERS) are behind the game as they still do not prohibit salary spiking as it figures into the Final Average Salary. For once, we at STRS, finally are ahead of them...too bad it isn't in the healthcare arena! I'd settle for OPERs healthcare premiums, wouldn't you?

(Feb 2009 O P&F Board Meeting summary from O P&F)

http://www.op-f.org/monthlyreport/

"BENEFITS: The Board was advised that OP&F Staff will be proposing language to address the approved Board motion on salary spiking. The Board also discussed new limits in Internal Revenue Service Section 415 and how it affects members participating in the Deferred Retirement Option Plan (DROP). The current limit of $195,000 takes into consideration both a DROP accrual and a normal monthly pension."

One thing to keep in mind, STRSers,....our investment associates can bankroll from their former overly generous bonuses by using them to calculate into their FAS, can't they?

John