February, 2012

…REPUBLICANS INTRODUCE GOVERNOR BROWN’S PENSION REFORM PLAN

Governor Jerry Brown translated his 12-point pension reform plan in February into bill form that included much greater detail. The legislation did not have a bill number or author, and was what

Democratic Assemblyman Jerry Hill of San Mateo reintroduced a measure last week that caps the amount of state and local government employees’ compensation used for pension calculations.

A group that hoped to put a sweeping public employee pension reform measure on the November ballot is suspending its campaign.

The City of Corona offered a customized PARS Early Retirement Incentive to employees in the summer of 2011 to help address the City’s fiscal challenges.  The PARS incentive enabled top-tiered city employees to retire sooner than they would have otherwise

The California State Teachers’ Retirement System, the second-largest U.S. public pension, cut its assumed annual rate of return to 7.5 percent from 7.75 percent, the second reduction since 2010.