What is pension spiking, and how is it costing the state of WA millions?

Soundside · Apr 28, 2025 · 24m

Companies have increasingly shifted the responsibility of saving for retirement onto workers. Pension plans have mostly disappeared from the private sector, in favor of 401k style plans.

For example, the Boeing Machinist union tried unsuccessfully get their pension plan reinstated during last year’s strike.

For most public employees, including Washington state workers, though, Pensions are still an option.

But not all public pensions are created equal. Some allow workers to potentially increase their pension checks by logging a lot of overtime in their highest paid years.

The result is…