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 […]
Archive | Merger
A Member’s Thoughts on SB-6668
Editor’s Note: The following is from an email circulated by Bradd Reynolds, PD Centralia Retired LEOFF1. I am posting it without edits but want to encourage readers to recognize there are some errors and misstatements. They are minor but can serve as an alert to double check on all you read — that includes the […]
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 […]