Hundreds of CA school administrators have pensions that exceed IRS limits [The Sacramento Bee]

Hundreds of California school administrators hired decades ago are collecting retirement incomes that are too big to qualify as public pensions under federal tax law.

The California State Teachers’ Retirement System issued payments last year for 359 pensions over the IRS public pension limit, according to the retirement system’s data.

CalSTRS sends the retirees and beneficiaries on the list two checks each month: one for the maximum pension disbursement and another that is classified and taxed as wages according to a process outlined in IRS code.

Source: Hundreds of California school administrators have pensions that exceed IRS limits [The Sacramento Bee]

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