Retirement Sign.jpgWhat Is An Impairment Of A Memorandum of Understanding (“MOU”)?

The Public Employees’ Pension Reform Act  (“PEPRA”) prohibits employers from paying any portion of a “new member’s” member contribution rate.  New member contribution is 50% of total normal cost.  CalPERS recently released new actuarial reports to employers reflecting what the member contribution rate will be

Retirement Sign.jpgThe 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