Posts Tagged: employer
To cover the cost of retirees living longer, the CalPERS board next month is expected to approve the third rate hike in the last two years, phasing in the increase to soften the blow on state and local governments. The new rate hike would not begin until fiscal 2016-17 to allow employers time to plan after receiving rate projections next year.
A CalPERS committee yesterday approved raising employer rates roughly 50 percent over the next seven years, replacing actuarial methods that kept rates low during the recession with a new goal of full funding in 30 years.
The actuarial method approved by the benefits committee on a 5-to-2 vote, with some labor unions urging a
The CalPERS board last week tentatively approved an employer rate hike of roughly 50 percent over the next half dozen years, replacing a policy that kept rates low during the recession with a plan to reach full funding in 30 years.
While giving unanimous “first reading” approval to the proposal by Chief Actuary Alan