2014 August

Arizona (Tucson) — Plan Conversion

Posted by StuartBuck in Arizona on August 25, 2014 with No Comments

Ballot Initiative:

Proposition 201 (proposed for November 2013 ballot)

Type of reform:

Conversion from defined benefit plan to a 401(k)-style defined contribution plan. Read more…

California (Ventura County) — Plan Conversion

Posted by StuartBuck in - -View All States - - on August 25, 2014 with No Comments

Ballot Initiative:

Sustainable Retirement System Initiative (proposed for November 2014 ballot)

Type of reform:

The initiative would change the pension system for new hires and new employees from a defined benefit plan to a 401(k)-style defined contribution plan. It would also limit pension-based salary increases for five years. Read more…

Maryland (Annapolis) — Reduced COLAs

Posted by StuartBuck in All on August 22, 2014 with No Comments

Law:

Ordinance 24-14 (July 2014)

Type of reform:

Ordinance 24-14 amended Section 3.36.150 of the Annapolis City Code to provide that the city of Annapolis would pay a fixed 2 percent annual COLA to all retired members of the city’s police and fire departments. Previously, the code had provided for the payment of variable COLAs according to four mechanisms. Read more…

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