Posts Tagged: $3.5million

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CalPERS to Vernon pension abuser: Give back $3.5 million

The CalPERS' governing board during a meeting several years ago at the pension fund's headquarters. (Photo: CalPERS board)

First CalPERS announced last year that it was cutting the eye-popping pension of a former city of Vernon official, Bruce Malkenhorst, from $551,688 a year to $115,848. Then yesterday the CalPERS board approved the recovery of a $3.5 million pension overpayment from Malkenhorst, 84, who retired in 2005 from the tiny industrial city south of downtown Los Angeles known for corruption.

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