California

California (Alameda) — Reduced Benefits

Posted by StuartBuck in - -View All States - - on January 11, 2017 with Comments Off on California (Alameda) — Reduced Benefits

Law: AB 340 and trailer AB 197 enacting California Public Employees’ Pension Reform Act (PEPRA) of 2013

Type of reform:

Among other things, PEPRA eliminated the option—previously available to public employees under Government Code 20909—to purchase at cost up to five years of non-qualifying service credit, or “airtime”.  Airtime allowed the purchasers to increase their pension benefits upon retirement by increasing their years of service.  Read more…

California (San Francisco) — Reduced COLAs

Posted by StuartBuck in California on April 9, 2015 with Comments Off on California (San Francisco) — Reduced COLAs

Law:

Proposition C  (November 2011)

Type of reform:

Proposition C (Nov. 8, 2011) amended the San Francisco Charter through section A8.526-3(d) to condition the payment of the supplemental COLA to retirees (first enacted in 1996) on the city’s retirement fund being fully funded based on a market value of assets for the previous year.

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California (San Diego)—Increased Employee Contribution, Changed Final Salary Calculation

Posted by StuartBuck in - -View All States - - on February 3, 2015 with Comments Off on California (San Diego)—Increased Employee Contribution, Changed Final Salary Calculation

Law:

California Public Employees’ Pension Reform Act of 2013 (PEPRA) (January 2013)

Type of reform:

The legislation reduced employer contributions, increased employee contributions, and reduced benefits from 3 percent of pensionable compensation to be paid at age 55 to 2.7 percent of pensionable compensation to be paid at age 57. Read more…

California—Increased Employee Contribution, Changed Final Salary Calculation, Eliminated Spiking

Posted by StuartBuck in - -View All States - - on January 6, 2015 with Comments Off on California—Increased Employee Contribution, Changed Final Salary Calculation, Eliminated Spiking

Law:

AB 340 and trailer AB 197 enacting California Public Employees’ Pension Reform Act (PEPRA) (January 2013)

Type of reform:

The legislation reduced employer contributions, increased employee contributions, and restricted final pay to wages, excluding in-kind payments, unused accrued vacation, and overtime.

Read more…

California (San Francisco) –- Increased Employee Contributions, Reduced Benefits

Posted by StuartBuck in California on January 6, 2015 with Comments Off on California (San Francisco) –- Increased Employee Contributions, Reduced Benefits

Law:

Public Employees Pension Reform Act (January 2013)

Type of reform:

The act increased employees’ contributions from 8 to 14 percent, reduced salaries, and reduced pension benefits.

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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…

California — Increased Employee Contribution, Changed Final Salary Calculation, Eliminated Spiking

Posted by Leila Walsh in - -View All States - - on May 22, 2014 with No Comments

Law:

AB 340 and trailer AB 197 enacting California Public Employees’ Pension Reform Act of 2013 (PEPRA) (January 2013)

Type of reform: 

PEPRA amended Government Code section 31461, a provision of the County Employees Retirement Law to fundamentally change the manner in which public pensions are calculated. PEPRA reduced employer contributions, increased employee contributions, and restricted final pay to wages—excluding in-kind payments, accrued unused vacation, and overtime. Specifically, the legislation prohibited the use of standby pay, administrative response pay, callback pay, cash payments for waiving health insurance, vacation, and other pay items from the calculation of members’ final compensation for the purposes of calculating pensions.
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California (San Diego) — Changed Final Salary Calculation, Increased Employee Contribution, Plan Conversion

Posted by Leila Walsh in - -View All States - - on May 22, 2014 with No Comments

Ballot initiative:

Proposition B (June 2012)

Type of reform:

The law froze pay levels used to determine final average pay, required a defined contribution plan for most new employees, and required substantially equal contributions from employees and employers. Read more…

California (San Jose) — Increased Employee Contribution, Benefits Reduction, and COLA Suspension

Posted by Leila Walsh in - -View All States - - on May 21, 2014 with No Comments

Ballot initiatives:

Resolution No. 76087 (December 6, 2011)

Resolution No. 76158  (March 2012)

Type of reform: 

The resolutions allowed pension reform, increased employee contributions, established pension cost and benefit reductions for new employees, and suspended cost-of-living adjustments (COLAs). Read more…

California (San Jose) — Increased Employee Contribution, Reduced COLAs, Plan Conversion

Posted by Leila Walsh in - -View All States - - on May 20, 2014 with No Comments

Ballot initiative:

Measure B  (June 2012)

Type of reform:

The law raised employee contribution rates to pay for unfunded liabilities, lowered cost-of-living adjustments (COLAs) for retirees, changed the definition of “disability pension,” and created a “voluntary election program” that allows employees to opt-in to a lower level of benefits for a lower contribution rate. Read more…

California (Pacific Grove) — Limited Employer Contributions

Posted by Leila Walsh in - -View All States - - on May 19, 2014 with No Comments

Ballot initiative:

Measure R (November 2010)

Type of reform: 

The measure placed a limit of 10 percent on employer contributions and provided that employees have no vested right to retirement benefits. Read more…

California (Pacific Grove) — Reduced Benefits

Posted by Leila Walsh in - -View All States - - on May 17, 2014 with No Comments

Law:

A voter initiative filed in 2012 sought to eliminate a police pension increase made by Ordinance 02-18 (2002).

Type of reform:

Ordinance 02-18 was a 3 percent at 50 plan, which allowed employees to retire at age 50 and receive an annual pension benefit equal to 3 percent times the number of years worked, times final salary. The salary paid to the employee after retirement was determined by the retirees’ years of employment and increased 3 percent for every year of service. The initiative alleged that the ordinance had been illegally enacted because it was premised upon faulty information and without appropriate disclosure and cost analysis. Read more…

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