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
As of 1/1/13, due to the Pension Reform Act, districts will only be able to design and implement early retirement incentive plans as 403(b) Defined Contribution plans. Fortunately, PARS has been designing early retirement plans as 403(b) Defined Contribution plans
The two articles below detail some of the potential pension fallout from the recent bankruptcy filings by California municipalities. According to bond rating firm Moody’s, financially troubled public agencies’ disputes with CalPERS over funding/distribution of retirement benefits may impact other