Some say Mayor Don Bankhead retired from the police force too early, unfortunately missing out on the last decade’s massive pension spikes that have driven modern public safety pensions well into six figures. As a result, Bankhead’s annual CalPERS pension is only $81,351.16, still about three times what the rest of us might be able to get from Social Security.
What?
But Bankhead found another way to boost his pension. Through a series of dubious disability claims filed towards the end of his career, he was able to make at least 40% of his retirement tax-free. The claims were allegedly suffered when Bankhead fell down some stairs and then later worsened when he fell out of a chair, according to this LA Times article from 1990.
Read the rest of “Fall Out of a Chair, Get a Tax Break. Bankhead Discovers ‘Chief’s Disease'”
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