August, 2012

30
Aug
2012

PARS Implements Successful Early Retirement Incentive Plan at City of Glendale

Categories: Early Retirement Incentives,PARS In the News

Glendale may save more than $9.5 million annually after 117 employees retire early, but paying for the incentive credited with voluntarily trimming the city's workforce will cost about $1.6 million.

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29
Aug
2012

Gov. Jerry Brown, Democrats strike controversial public pension deal

Categories: California Developments,Legislative Updates

The Governor and Legislature finally agreed on long-awaited major pension reform on Tuesday. Because the language was released in a committee bill, the comprehensive proposal allows for no amendments and will be decided by an up-or-down majority vote on August

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28
Aug
2012

New scrutiny from IRS on public pensions

Categories: California Developments

A newly proposed IRS rule could cause thousands of California charter school employees to become ineligible for CalSTRS. In addition, some special districts that are part of 1937 Act counties could face similar eligibility questions.

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08
Aug
2012

Community Colleges: Prepare for Possible Mid-Year Triggers with an Early Retirement Incentive

Categories: Early Retirement Incentives,Hot Sheets

The bad news… If the November tax measure fails, community colleges will face a large trigger cut, plus further cash deferrals. Colleges may have to cut enrollment, lay off employees or reduce class offerings.

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07
Aug
2012

Steinberg says labor allies won’t be happy after California achieves pension reform

Categories: California Developments

Senate President Darrell Steinberg promises that public pension reform will happen by the end of August. Democrats want to include a cap on benefits and possibly a hybrid plan for new employees with a 401k-style component. Gov. Jerry Brown also

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