Does your public agency contract with, or a member of, CalPERS, STRS, or a ’37 Act system? Have you exhausted all possible ways under those systems to reduce pension costs such as reducing benefits for new hires, eliminating or reducing employer paid member contributions, or reducing special compensation? Do you want to achieve
The San Diego Superior Court Follows The Will Of The San Diego Voters And Denies PERB’s Request To Block Implementation Of The Comprehensive Pension Reform Initiative.
This guest post was authored by Alison Neufeld
The San Diego Superior Court has denied the Public Employment Relations Board’s request for a preliminary injunction preventing the City of San Diego from implementing Proposition B, also known as the Comprehensive Pension Reform Initiative (CPRI). This local ballot measure was passed by a significant majority of
Rescission Of Pension Benefits By City Held To Be Lawful
The vested nature of public employee retirement benefits is a hot topic. On the one hand, there are municipalities dealing with increasing pension costs and unfunded liabilities. On the other hand, there are often times a vested right to future pension benefits for employees and retirees cannot be impaired except under very limited circumstances. Most
CalPERS Reduces Employer Impact by Phasing-In Change in Contribution Rates
On March 14, 2012, our Blog Post examined CalPERS’ decision to lower the discount rate from 7.75 percent to 7.5 percent in its assumption when determining employer contribution rates. At a meeting of the CalPERS Board of Administration, staff were asked to study the possibility of phasing-in the increased employer contribution rates over a two
CalPERS Approves Lowering The Discount Rate to 7.5%; CalPERS Employers Will Be Paying Higher Contributions
On March 14, 2012, the Board of Administration of the California Public Employees’ Retirement System (“CalPERS”) approved lowering the “discount rate” or “rate of investment return” from 7.75% to 7.5% in its assumptions when it determines employer contribution rates. This means that employers who contract with CalPERS for pension benefits will see their employer contribution
California Supreme Court Denies Review Of Court’s Decision That Orange County’s Retroactive Retirement Formula Enhancement Is Not Unconstitutional
Yesterday, the California Supreme Court denied the County of Orange’s petition to review the decision in County of Orange v. Association of Orange County Deputy Sheriffs (2011) 192 Cal.App.4th 21. This means the Court of Appeal’s decision stands holding that the County’s grant of a retroactive enhanced retirement formula for employees “all years of