Top Definition
A bunch of tax payer funded leeches; but, this is also commonly used as acronym for the California Public Employee Retirement System.
Tommy: Yo dog, you get your check yet from a bunch of tax payer funded leeches?

Billy: Nah, yo. You?
Tommy: Yea playa - you know it was CalPERS straight up.
Billy: Say word?
Tommy: Word.
by have denke March 25, 2011

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