City, Omaha Police Union Seek Pension Spiking Change

[Omaha Steve]

http://www.msnbc.msn.com/id/28534499/

TheOmahaChannel.com
updated 12:47 p.m. CT, Wed., Jan. 7, 2009

OMAHA, Neb. - An Omaha police officer is set to make nearly $20,000 more a year through his pension than he made with his annual salary and it's perfectly legal.

It hasn't yet been changed in the union contract.

Jerry Baggett served on the Omaha police force for 22-years. Most recently he served as a sergeant with the Omaha gang unit.

Baggett made an annual salary of $66,000 a year. Now at the age of 45, he's retiring.

Baggett annual pension will be $84,000 a year for the rest of his life.

How is that possible? It's called pension spiking.

FULL story at link.