Caltrans Worker Retired With $400,000 in Unused Paid Time Off

A transportation engineer for Caltrans received a nice retirement gift of $405,000 in unused vacation pay.

At least 450 other employees received more than $100,000 last year. At the top of that list was a prison surgeon who received $456,002.

According to the LA Times:

Last year, the state paid its employees nearly $300 million for banked time off, according to a Times analysis of payroll data from the state controller’s office. The data include most agencies and departments, but not legislative employees or other taxpayer-funded institutions such as the public university systems. That means the actual cost to taxpayers for unused vacation is much higher.

The total unfunded liability also does not account for employees who used stockpiled days off at the end of their careers to remain employed while not actually working, boosting the value of their pensions.

All told, state workers had $3.5 billion in unused leave as of 2017, the most recent estimate available.

 


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Policy

Finance

Tuesday, January 29, 2019 - 20:41

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