September, 2012

20
Sep
2012

Locally Controlled Retirement Incentive Plans Can Not Be “Offered” in Cities, Counties, and Special Districts per new Pension Reform Act

Categories: California Developments,Hot Sheets,Legislative Updates

As of December 31, 2012, cities, counties, and special districts will lose a valuable tool to prevent layoffs and reduce labor costs. Supplemental defined benefit plans, such as locally controlled early retirement incentive programs, will be prohibited after that date under the Public Employees Pension Reform Act

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20
Sep
2012

Pension Reform Act has Minimal Impact on PARS Early Retirement Incentive Design for Schools

Categories: California Developments,Early Retirement Incentives,Hot Sheets,Legislative Updates

The Public Employees Pension Reform Act (PEPRA-AB 340), enacted into law last week, restricts the way early retirement incentives can be designed. Fortunately, PARS for the last six years has innovatively designed all its school district early retirement incentives (or

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20
Sep
2012

Pension Reform Act has Minimal Impact on PARS Early Retirement Incentive Design for Community College Districts

Categories: California Developments,Early Retirement Incentives,Hot Sheets,Legislative Updates

The Public Employees Pension Reform Act (PEPRA-AB 340), enacted into law last week, restricts the way early retirement incentives can be designed. Fortunately, PARS for the last six years has innovatively designed all its community college district retirement incentives (or

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18
Sep
2012

Gov. Brown Signs Pension Reform Bill

Categories: California Developments,Legislative Updates

On September 12, Governor Jerry Brown signed Assembly Bill 340, the pension reform measure that lawmakers passed on the last day of the legislative session. CalPERS estimates the measure will lower public pension costs $42-$55 billion over the next 30

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04
Sep
2012

Legislative Alert September 2012

Categories: California Developments,Legislative Updates

… MAJOR PENSION REFORM PASSES In the last week of the legislative session, the Governor and Legislature finally agreed on long-awaited major pension reform and on August 31, 2012, the legislature passed the bill. The Governor is expected to sign it.

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