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
From Diego To The Bay: California Voters Love Pension Reform, But It’s Not As Simple As It Looks For Public Employers
Two pension reform ballot measures were overwhelmingly passed by voters in San Diego and San Jose last week. Now, other cities, counties and districts in California that participate in CalPERS or STRS, or maintain a ’37 Act system are asking, “can we do the same thing?” The short answer is, “no,” at least not at
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