.CalPERS' audit alleges that over the past 15 years, the Broadmoor Police Department unlawfully employed four individuals whom CalPERS considered retired and to whom it provided retirement benefits.
In one of the largest “double-dipping” cases in recent memory, the state’s main pension fund is demanding that a former police chief return $1.8 million in “unlawful” retirement benefits he accrued while working in the tiny San Mateo county neighborhood of Broadmoor.
Parenti went on to work for the Broadmoor Police Protection District from 2007 to 2020, serving in five different positions, including police chief. During most of that time he was collecting retirement benefits from his career with the DA in addition to compensation equivalent to a full-time salary, CalPERS alleges based on the findings of a December 2021 audit.
CalPERS’ audit alleges that over the past 15 years, the Broadmoor police department unlawfully employed four individuals whom CalPERS considered retired and to whom it provided retirement benefits. Of the four Broadmoor police department employees listed in the audit, Parenti had the greatest number of possible violations of CalPERS policy.
Also starting in December 2013, after he retired for the second time, Parenti was able to increase his retirement benefits commensurate with the salary he earned in his year as a full-time employee. Before his second retirement, Parenti’s benefits were equivalent to a $93,000 annual salary; after his second retirement, his benefits were equivalent to a $152,000 annual salary, according to the audit.
“We respect the judge’s decision on this initial procedural skirmish, which held only that we shouldn’t reduce Mr. Parenti’s pension while the case is pending,” Matt Jacobs, general counsel for CalPERS, said in a statement. “We remain confident that we will prevail on our primary allegation that Mr. Parenti was unlawfully double-dipping by receiving both a pension and a salary from the same agency.
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