Posts tagged CalPERS

Last Wednesday, the California Supreme Court held oral arguments for Cal Fire Local 2881 v. CALPERS.  This case, along with three others, addresses the “California Rule,” which provides that employees are forever entitled to the pension benefits that were promised to them on the first day they began their service. The California Rule has been known to pose problems for fiscally limited agencies because the rule essentially prohibits decreases of an employee’s pension benefit.  This case, however, might show that the California Rule is not so inflexible.

Tags: CalPERS

As reported in the Sacramento Bee, last week the CalPERS Board unanimously voted to shorten the amortization period of future gains and losses from 30 years to 20 years. The new policy will become effective as of the June 30, 2019 actuarial valuations, with the first payments due in 2021.

Categories: Public Pensions

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