CalPERS' headquarters in Sacramento. (Photo: Coolcaesar/en.wikipedia)A new CalPERS projection shows employer rates for the largest group of state workers increasing 27 percent over the next six years — but the focus is on the risk of how much things can change.
The Metrolink station in Buena ParkGov. Brown’s signing of legislation to exempt some 20,000 California transit workers from public pension changes could mean at least $1.6 billion — and perhaps more than $4 billion — in federal funds for California.
A superior court judge overturned a freeze on retiree health care for Los Angeles city attorneys this month, citing some of the same case law that made public pensions a vested right that can only be cut if offset by a new benefit.
New government accounting rules will more than double the pension debt reported by CalSTRS, boosting an “unfunded liability” that is now about $71 billion to a newly calculated “Net Pension Liability” of $166.9 billion.