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California Study Urges Changes in Retirement Payouts

California should force state workers to use up their vacation time rather than bank it until retirement, the Legislative Analyst’s Office said after finding the cost to taxpayers has reached a historic high.

More than 23,700 public employees have exceeded the maximum vacation days they can bank, after time off increased by 50 percent when workers were forced to take unpaid leave, or furloughs, to trim payroll costs, the LAO said yesterday in a report. The liability for unused leave grew to $3.9 billion in 2011 from $1.4 billion in 2003, according to state figures.