State Developments

10
Oct
2013

Federal judge says Sacramento County retirees aren’t entitled to permanent health care subsidies

Categories: State Developments

Retired Sacramento County employees have no legal right to unending health care subsidies from the county, a federal judge has ruled.

The Sacramento County Retired Employees Association and six individuals sued the county in 2011 on behalf of four categories of retirees, challenging the decision to reduce or terminate subsidies that help pay for medical and dental care.

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05
Sep
2013

California mass-transit workers get pension reprieve

Categories: State Developments

Federal officials cut off $54 million for Sacramento Regional Transit on Wednesday, prompting Gov. Jerry Brown to announce a pension-law compromise intended to keep the money flowing to transit agencies on the verge of losing grant funds.

With a series of similar U.S. Department of Labor rulings likely that would have disrupted $1.6 billion in grants statewide for this year alone, Brown’s office said the governor supports Assembly Bill 1222…

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04
Sep
2013

A careful look into whether CalPERS is ticking along or a ticking time bomb

Categories: State Developments

The California Public Employees’ Retirement System — right up the road from us in Sacramento — has won international acclaim as an investor — for better or worse. Part of what puts CalPERS on everyone’s map is its sheer size at about $260 billion of managed assets. Another part of the picture is that it has always been willing to pay up for careful management of those megabillions — and its transparency about all the moves it makes is truly exemplary…

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03
Sep
2013

Legislative Alert-August 2013

Categories: Legislative Updates,State Developments

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…

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25
Aug
2013

A Plan to Avert the Pension Crisis

Categories: National Developments,State Developments

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…

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