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Pensions Can Be 'Reasonably' Lowered, Calif. Panel Says

By Vin Gurrieri ( August 18, 2016, 8:42 PM EDT) -- A California state appellate court ruled Thursday that local retirement plan administrators could legally curtail a practice known as "pension spiking," when public employees use various ploys to inflate their income and retirement benefits, as long as the workers are still offered reasonable benefits....

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