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Legislative News

Notable Points From The Governor's State Budget Report

Posted: 1/13/2015 Tags: budget governor health jobs pension policy retirement salary Tags Views: 3147

Posted: 1/13/2015

On Friday 1/9/15, Governor Brown released his proposed 2015-2016 State Budget. Brown claims that the budget still remains “precariously balanced” and urges “financial restraint and prudence” in order to avoid another recession in the future. Here are the proposals that affect ACSS and ACSS members:

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In Inaugural Speech, Governor Brown Proposes Pension Pre-funding

Posted: 1/6/2015 Tags: budget governor pension politics retirement Tags Views: 2370

Posted: 1/6/2015

As has been much reported, the Governor will propose that state employees begin pre-funding of state retiree healthcare in his budget to be released on Friday at 10 a.m. In his inaugural State of the State speech on January 5, 2015, he makes only a vague reference to the issue. The Governor mentions in his speech, “For the next effort, I intend to ask our state employees to help start pre-funding our retiree health obligations which are rising rapidly.” More details will be available on Friday, but we are told the issue will be subject to collective bargaining. Unfortunately this puts supervisors in a difficult position and potentially affects supervisors by having more money taken from paychecks to fund pensions. ACSS will be intervening on this process on behalf of its members.

ACSS will continue to inform you on progress with this issue and bring to light the news that is important to you as managers, supervisors and confidential state employees.


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Take Notice of New Laws Affecting CalPERS Members in 2015

Posted: 1/5/2015 Tags: health insurance policy retirement Tags Views: 2742

Posted: 1/5/2015

Several Assembly and Senate Bills that could impact CalPERS members made their way through the California Legislature in 2014. One of the most important bills signed into law may affect your retirement benefit decisions, while others will work to protect benefits and strengthen the pension system and health benefits program.

AB 2472 (Committee on PERS) allows members, when they are newly retired, to change their survivor benefit option election if CalPERS receives their request within 30 days of the issuance of their first retirement payment, rather than before the receipt of the first check.

AB 1163 (Levine) reflect the Board’s ongoing commitment that its Board members possess the education and training necessary to ensure the sustainability of our retirement, health, and other benefit plans. These education requirements match the education and training policy that the Board has been working on for several years.

SB 1182 (Leno) and SB 1340 (Hernandez) will improve CalPERS’ access to health care cost information, so that health care purchasers can better identify cost drivers and possibly negotiate lower health benefit rates, therefore improving health plan transparency.

SB 1251 (Huff) provides a narrow exemption to the Public Employees’ Pension Reform Act of 2013 (PEPRA) for the Cities of Brea and Fullerton in Orange County. The bill allows these cities to form a new joint powers authority (JPA) and provide the retirement benefit formulas currently provided by the cities, rather than reduced PEPRA formulas. Without this exemption, the cities argue that they could not transfer existing city employees to the new JPA.


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CalPERS Urges Prefunding of Retiree Healthcare

Posted: 12/17/2014 Tags: health insurance retirement Tags Views: 2200

Posted: 12/17/2014

CalPERS has joined State Controller John Chiang in supporting prefunded healthcare plans for California retirees to supplement future health care needs. Chiang, who is also a member of the CalPERS Board of Administration, issued a press release on 12/16/14 noting a $71.8 billion unfunded retiree healthcare liability for California.

Prefunding retiree healthcare is a fiscally prudent move to help close the unfunded liability gap in health care for the State’s retirees. CalPERS optional California Employers' Retiree Benefit Trust (CERBT) Fund is helping employers at all levels take a proactive step to ensure the long-term sustainability and security of health benefits for their retirees.

The fund has 439 participating employers, including the State of California, which contributes for (three) employee bargaining units that took the proactive step of agreeing to prefund health coverage for their members. The CERBT fund is currently valued at more than $4 billion and is currently the largest Other Post-Employment Benefits fund in the California.

View the CalPERS Press Release here with additional information links.

View the State Controller Chaing's Press Release.


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CalPERS Public Pension Study

Posted: 12/8/2014 Tags: pension Tags Views: 2684

Posted: 12/8/2014

CalPERS releases a study by the National Institute on Retirement Security entitled, "Still a Better Bang for the Buck." This was an update on the Economic Efficiencies of Defined Benefit Pensions. Download the study here (PDF, 3MB). In addition, here is a web address where you can access this same study:

http://www.nirsonline.org/index.php?option=com_content&task=blogcategory&id=71&Itemid=61


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