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 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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