Headline: Second California appeals court rules pension benefits can be reduced
Publication: Pensions & Investments
Article Date: Jan 3, 2017
In August, a state appeals panel ruled on a Marin County case, stating that “While a public employee does have a ‘vested right’ to a pension, that right is only to a ‘reasonable’ pension – not an immutable entitlement to the most optimal formula of calculating the pension.” On December 30, a second state appeals panel in San Francisco made a similar decision on a 2015 Alameda County court ruling, citing the decision on the Marin County case. The California Supreme Court has agreed to hear an appeal on the Marin County case, but no date has been set yet. Read article…