A 14% hike in the retirement fund payment
The local air district's proposed budget includes a 14% hike in the account for retirement benefits. It stood out in a budget that had cuts in many places, including two staff positions.
The district participates in the Kern County Employees Retirement Association, which apparently runs pension trusts. Officials chose the association to administer the retirement program when the district was formed in the early 1990s.
I'm checking on it, but it must have been the best deal around.
The budget increase this year follows two consecutive years of rate reductions, officials said. I am trying to find out if the contributions to the retirement trust are somehow connected to the stock market's performance. I'm guessing it is.
If you have thoughts about retirement systems supported with public money, now is your chance to say something. What do you think?

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