News & Analysis as of

Municipalities Pensions

Miller Canfield

Michigan Court of Appeals Protects Act 345 Health Care Funding for Retired Police Officers and Firefighters

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In a matter of first impression, the Michigan Court of Appeals held that municipalities may use tax dollars assessed under the Fire Fighters and Police Officers Retirement Act (a/k/a “Act 345”) to fund police and fire retiree...more

Pullman & Comley, LLC

Best Practices for Municipal Retirement Plans

Pullman & Comley, LLC on

- Create a Plan Document... - Do not rely solely on special acts, ordinances, or collective bargaining agreements... - Reflect collectively bargained provisions... - Update contemporaneously to reflect changes in...more

Best Best & Krieger LLP

[VIDEO] The Bill is Due: Now What? Closing Remarks

Closing remarks given by Best Best & Krieger LLP Managing Partner Eric Garner and Practical Futurist Michael Rogers concluded The Bill is Due: Now What? Infrastructure, Pensions and the Environment, held April 24, 2018 at the...more

Best Best & Krieger LLP

[VIDEO] A Glimpse at the Future

"A Glimpse at the Future" presented by Michael Rogers was included in The Bill is Due: Now What? Infrastructure, Pensions and the Environment, held April 24, 2018 at the Richard Nixon Presidential Library and Museum....more

Best Best & Krieger LLP

[VIDEO] The Bill is Due: Now What? Opening Remarks

Best Best & Krieger LLP Managing Partner Eric Garner and Practical Futurist Michael Rogers give opening remarks at The Bill is Due: Now What? Infrastructure, Pensions and the Environment, held April 24, 2018 at the Richard...more

Best Best & Krieger LLP

[VIDEO] Perspectives: The Practical Effects of Today's Pension Programs

"Perspectives: The Practical Effects of Today's Pension Programs" was included in The Bill is Due: Now What? Infrastructure, Pensions and the Environment, held April 24, 2018 at the Richard Nixon Presidential Library and...more

McNees Wallace & Nurick LLC

Another Attempt to Control Rising Pension Costs in Pennsylvania Thwarted

In City of Allentown, the Pennsylvania Supreme Court ordered the City to implement an interest arbitration award which contained (among modifications to wages, sick leave, vacation, pension and overtime) a minimum staffing...more

Downs Rachlin Martin PLLC

News from the Vermont State House - An analysis from DRM's Government & Public Affairs Team - February 2017

The Agency of Transportation has submitted a proposal to the House Transportation Committee that would allow the agency to seek damages from a utility that fails to move or adjust a utility line that is in a state or local...more

Pullman & Comley, LLC

Appellate Court Notes

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- Supreme Court Advance Release Opinions: - SC19422 - Awdziewicz v. Meriden Certain police officers retired, entitling them to pension benefits under the City Charter as previously modified in a separate lawsuit...more

Nossaman LLP

Bankruptcy Court Decides That The Bankruptcy Code Preempts California State Pension Laws

Nossaman LLP on

In a February 4, 2015 opinion, the bankruptcy judge presiding over Stockton, California's Chapter 9 municipal bankruptcy case approved Stockton's bankruptcy plan of adjustment. In re City of Stockton, 2015 Bankr....more

Akin Gump Strauss Hauer & Feld LLP

Proxy Access Proposals: Recent Developments

Recently, New York City Comptroller Scott Stringer, who oversees five municipal public pension funds with $160 billion in assets, announced an initiative to give shareholders who meet specified criteria the right to nominate...more

Holland & Knight LLP

Florida Appellate Court: Open Meeting Law Applies to Collective Bargaining - The Florida Court Holds That a Mediation Settlement...

Holland & Knight LLP on

In a crucial victory for transparency, a Florida state appeals court ruled on Oct. 21, 2014, that the law will not "condone hiding behind federal mediation" when municipal governments try "to thwart the requirements of the...more

Cooley LLP

Blog: California Bankruptcy Judge Rules that State Law Does Not Protect Pension Fund from Municipal Bankruptcies

Cooley LLP on

On October 1, a bankruptcy judge ruled that the pension agreement between Stockton, California and Calpers, California’s massive state-run pension fund for public employees, is an executory contract that can be rejected in...more

Dorsey & Whitney LLP

SEC Brings Another Bond Case Against A State

Dorsey & Whitney LLP on

The SEC’s nationwide review of municipal bond disclosures yielded another enforcement action, this time against the state of Kanas. The Order centers on claims that the state failed to disclose its huge unfunded pension...more

Orrick - Finance 20/20

SEC Updates FAQs Regarding the Municipal Advisor Registration Rules

Orrick - Finance 20/20 on

On May 19, the SEC updated its Frequently Asked Questions Regarding the Municipal Advisor Registration Rules to clarify when the proceeds of pension obligations bonds should be treated as “proceeds of municipal securities.” ...more

Best Best & Krieger LLP

Court's Tentative Decision on San Jose's Pension Reform Measure Appears to Favor City

However, the Vested Rights Doctrine Proves Fatal to Core Pension Reform Measures - A tentative decision on the legal challenges to the City of San Jose’s pension reform measure, Measure B, was released late last month....more

Troutman Pepper

Public Officials, Financial Disclosure And A New Era Of Liability

Troutman Pepper on

The Securities and Exchange Commission is making it clear: Government leaders who issue misleading financial information are putting themselves at risk. Several recent actions by the Securities and Exchange Commission...more

Baker Donelson

Government Employee Pensions May Now Be Fair Game for Cuts During Bankruptcy Restructuring

Baker Donelson on

On Tuesday, December 2, 2013, Judge Steven Rhodes of the Eastern District of Michigan ruled that the City of Detroit, which filed for Chapter 9 bankruptcy protection in the U.S. Bankruptcy Court on July 18, 2013, met the...more

Saul Ewing Arnstein & Lehr LLP

Detroit’s unprecedented bankruptcy filing highlights issues facing municipalities nationwide

The resolution of the City of Detroit’s bankruptcy proceeding may have wide-reaching implications regarding the treatment of general obligation bonds, underfunded pensions and health care obligations, as well as the use of...more

Sheppard Mullin Richter & Hampton LLP

The Stockton Saga Continues: Untouchable Pensions on the Chopping Block?

Judge Christopher M. Klein's decision to accept the City of Stockton's petition for bankruptcy on April 1, 2013 set the stage for a battle over whether public workers' pensions can be reduced through municipal reorganization....more

Ballard Spahr LLP

Government Finance Officers Association Issues Guidelines For Pension Funding

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As market regulators press for stricter reporting guidelines for state and local governments concerning pension disclosure in public offerings, the Government Finance Officers Association (GFOA) is advocating that funding...more

Cadwalader, Wickersham & Taft LLP

California Dreaming? CalPERS Seeks Payment in Full of All Pension Obligations During Pendency of San Bernardino’s Chapter 9 Case

California has seen a string of three Chapter 9 filings this year and faces a long line of distressed municipalities. Given this backdrop, the California Public Employees’ Retirement System (“CalPERS”) figures to play a...more

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