Archive | Merger

TRS Underfunding

One of the major concerns of LEOFF 1 members about the proposed TRS 1/LEOFF 1 merger is the failure of the legislature to properly fund the TRS 1 pension plan.  In fact, the under funding has been so bad that there is no reason to expect the legislature will address these issues in the future.  […]

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California court opens door to changing public employee pensions

August 22, 2016 BY DAN WALTERS dwalters@sacbee.com California’s perpetual debate over public employee pensions has always revolved about what’s called the “California rule” – a series of court decisions that seemingly prohibit any changes in pension benefits once they are granted. The debate has intensified in recent years as the California Public Employee Retirement System […]

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SB 6668 – Why Merge?

On February 24, 2016 SB 6668 was introduced. It seems a simple proposition designed to mend a serious unfunded liability in the Teachers Retirement System Plan 1 (TRS 1). That system has a significant deficit and is funded only at the level of 69%. The bill proposed to take all of the money out of […]

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