In September, we reported on a significant case, Marin Association of Public Employees v. Marin County Employees’ Retirement Association, in which a California appellate court ruled that the government could make reasonable modifications to public employees’ pension benefits without infringing on their vested right to a reasonable pension. We predicted the case would be appealed to the California ...
The California Public Employees’ Retirement System (CalPERS) Board of Administration recently approved new draft regulations concerning what types of compensation will be used to calculate pension benefits. These regulations will apply only to members hired on or after January 1, 2013, under the Public Employees’ Pension Reform Act (PEPRA). The regulations are meant to counter pension spiking ...
On March 15th, the CalPERS Board of Administration declared the East San Gabriel Valley Human Services consortium in default for failing to pay over $400,000 to fund its pension plan. According to CalPERS, the consortium’s contract will terminate in 60 days. At that time, the consortium will be liable for approximately $19.3 million, the amount needed to fully fund current and future payments of ...
Other AALRR Blogs
- CalPERS Health Plan Premiums Announced for 2021
- CalPERS Misses Annual Investment Target with a 4.7 Percent Net Return
- “California Rule” Survives (For Now) — But “Airtime” Does Not
- Be Cautious About “DROP” Programs
- California Supreme Court Hears Cal Fire Oral Argument
- Amortization Period for New Debt Shortened to 20 Years
- New CalPERS Compensation Limits, Effective Immediately
- CalPERS Responds to Its Critics
- Senate Bill 525 Amends California Public Pension Laws
- New Stanford University Study Predicts Public Pensions Costs in California to Consume 14-17.5% of Operating Expenses by the Year 2030