SACRAMENTO, Calif. (AP) — A new report released Wednesday by the state controller's office found that the nation's largest teacher pension fund has been so lax about detecting pension spiking at California school districts that it is on pace to audit each district once every 48 years.
The office found that the California State Teachers' Retirement System failed to adequately audit school districts, missed opportunities to stop unjustified salary increases, and failed to use its own electronic system to detect possible abuses.
Besides the slow pace of auditing 1,900 districts and offices, the report found in a sampling of districts that they often lacked transparency or documentation to justify pay increases.
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