August, 2014

28
Aug
2014

CalSTRS Unfunded Liability Drops Significantly

Categories: California Developments

Before the passage of the CalSTRS funding bill, AB 1469 (Bonta, D-Alameda), the unfunded liability was pegged at $74 billion. Based on (GASB) standards, the net pension liability was as high as $167 billion. Because the CalSTRS funding solution was adopted before the end of the fiscal year, and the Defined Benefit program is no longer projected to run out of funds “in any future year” according to CalSTRS’s actuary, the calculated net pension liability has been significantly reduced.

read more...
21
Aug
2014

CalPERS committee OKs counting supplemental pay toward public pensions

Categories: California Developments

A key CalPERS committee on Tuesday approved counting nearly 100 types of government-salary supplements toward employees’ pension benefits, including extra money workers earn for temporarily filling higher-paying jobs. The proposed regulation, which defines language in a 2013 law that bases pensions on “the normal monthly rate of pay or base pay,” goes to the full CalPERS board for a final vote on Wednesday and is expected to pass.

read more...
21
Aug
2014

The “Not-So” Sustainable Retirement System Initiative – Shelved

Categories: California Developments

In a legal battle that furthers the discussion of possible statewide pension reform, a local Ventura County ballot initiative recently proposed to place all new hires in a 401(k)-style plan, and apply a five-year freeze on "pensionable" pay for all employees (including public safety). After collecting enough signatures to reach the November 2014 ballot, a judge stepped in and blocked it. While this specific ballot measure may be dead, those in support of the initiative have stated that the judge's decision demonstrates a need for a statewide reform.

read more...
18
Aug
2014

An Experienced Local Team for PARS’ New England Expansion!

Categories: New England Developments,PARS In the News

PARS is pleased to announce that Kathryn Cannie, has joined the PARS team as a Senior Consultant to support PARS services in New England. She will work alongside Senior Vice President Maureen Toal, a PARS 15 year veteran. Both Maureen and Kathryn have strong governmental backgrounds in New England.

read more...
16
Aug
2014

Dallas County Knocks out over $100,000 from its budget

Categories: Hot Sheets,Texas Developments

By implementing a PARS FICA Alternate Retirement System (ARS) for part-time, seasonal and temporary (PST) employees, Dallas County delivers a one-two punch. First, an ARS plan significantly reduces the County’s payroll costs and second, it puts more pay in employees’ pockets.

read more...
Page 1 of 212

Archive

  • +2018
  • +2017
  • +2016
  • +2015
  • +2014
  • +2013
  • +2012
  • +2011
  • +2009
  • +2004