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Second California Appeals Court Rules Pension Benefits can be Reduced
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…
Q-and-A with Kristin Gaspar, New 3rd District County Supervisor
Headline: Gaspar Begins to Plot a Course ‘Focusing More on County Operations’
Publication: Voice of San Diego
Article Date: Jan 5, 2017
Former Encinitas Mayor Kristin Gaspar was sworn in on Monday January 9th as county supervisor for District 3. In this Q-and-A by Voice of San Diego, “County Supervisor Kristin Gaspar talks about the election, her transition into the job and how she hopes to accomplish what she promised during her campaign in the next four years. She said she’ll focus ‘more on county operations’ than her predecessor and suggests that might mean attending fewer community events.” Read article…
‘California Rule’ Case Could Bring National Pension Ripples
Headline: ‘California Rule’ Case Could Bring National Pension Ripples
Publication: The Bond Buyer
Article Date: Dec 22, 2016
“The Supreme Court of California has a case before it with the potential to alter the political and legal conversations about pensions in the Golden State and beyond.” Read article…
CalPERS Ratifies Lower Investment Forecast
Headline: CalPERS ratifies lower investment forecast. Higher pension contributions are coming.
Publication: The Sacramento Bee
Article Date: Dec 21, 2016
A lackluster investment climate led the CalPERS board to agree to reduce its official investment forecast by a half a percentage point over the next three years. This will mean higher pension contribution rates for the state, local governments, school districts and at least some public employees. Gov. Jerry Brown applauded the move, stating “This will make for a more sustainable system.” Read article…
Good News & Bad News for Retirees: Life Expectancies Increase
Headline: Good news and bad news: You may end up living a lot longer than you expect
Publication: Market Watch
Article Date: Dec 13, 2016
We are living longer, that’s a fact. This article provides data from the Social Security Administration and some advice and tools on how to plan for a longer and better life. Read article…