On January 1st, the Public Employees Pension Reform Act (PEPRA), or Assembly Bill 340, went into effect. As you know, PEPRA forced large changes to California’s public pension system, with standard benefit formulas being lowered and cost sharing implemented for new members of retirement systems. Certain provisions of the bill are very unclear however, and as a result…read more...
It isn’t politically feasible for Washington to bail out Detroit, but President Obama and Congress must step in to avert the worst fiscal collapse in urban American history.
They must intervene, because symptoms of the municipal illness that made Detroit, with an estimated $18 billion in liabilities…read more...
The CalPERS board has tentatively approved an employer contribution rate raise of approximately 50% over the next half dozen years, replacing a smoothing policy that kept rates low during the recession with a plan to reach full funding in 30 years. At the March 19, 2013, meeting CalPERS staff provided the Board a reportread more...
The most significant pension reform law in decades went into effect January 1. The Public Employee Pension Reform Act (PEPRA), creates a lower tier of benefits for new public employees and makes several changes to the retirement
On December 1st, Maureen Toal, Vice President, Public Affairs at PARS presented with School Services of California at CSBAAEC, the California School Boards Association Annual Education Conference, and addressed the latest in public employee benefit trends and pension