After years of recriminations and acrimony between members of the Board of Trustees for the Houston Community College System (“System”), the Board censured one of its members for “reprehensible” conduct–including speech–“not...more
In this episode of Public Pensions & Investments Briefings, Nossaman Public Pensions & Investments Group Partner Peter Mixon and Institutional Limited Partners Association Senior Policy Counsel Chris Hayes discuss what impact...more
3/16/2021
/ Biden Administration ,
Carried Interest ,
Department of Labor (DOL) ,
Diversity ,
Diversity and Inclusion Standards (D&I) ,
Environmental Social & Governance (ESG) ,
Fund Managers ,
Infrastructure ,
Institutional Investors ,
Institutional Limited Partners Association (ILPA) ,
New Regulations ,
Pension Funds ,
Pensions ,
Public Pension ,
Reporting Requirements ,
Retirement Plan
On February 5, 2021, a second court of appeal in California upheld the constitutionality of the felony forfeiture statute enacted as part of the Public Employees’ Pension Reform Act of 2013 (PEPRA) in Wilmot v. Contra Costa...more
As the public pension community in California is well aware, on July 30, 2020, the California Supreme Court issued its landmark decision on vested rights and the constitutionality of legislative changes to public retirement...more
On November 24, 2020, the California Supreme Court denied two requests for depublication of the First Appellate District’s decision Marin Assn. of Public Employees v. Marin County Employees’ Retirement Assn. (2016) 2...more
On September 23, 2020, the California Supreme Court issued orders in each of the four cases it had accepted for review but deferred pending its resolution of Alameda County Deputy Sheriff's Association, et al. v. Alameda...more
9/28/2020
/ CA Supreme Court ,
Constitutional Challenges ,
Contracts Clause ,
Estoppel ,
Felons ,
Forfeiture ,
Forfeiture Statutes ,
Pensions ,
Public Employees ,
Public Employees’ Pension Reform Act of 2013 (PEPRA) ,
Retirement Plan ,
State Constitutions
In a landmark decision of a unanimous court, on July 30, 2020, the California Supreme Court issued its second case in two years on the scope of the “California Rule,” Alameda County Deputy Sheriff’s Assoc. et al., v. Alameda...more
8/4/2020
/ CA Supreme Court ,
Compensation & Benefits ,
Deferred Compensation ,
Employee Benefits ,
Equitable Estoppel ,
Pensions ,
Public Employees ,
Public Employees’ Pension Reform Act of 2013 (PEPRA) ,
Public Pension ,
Retirement Plan ,
Settlement Agreements ,
State Constitutions
The United States Supreme Court recently reviewed the federal constitutional standing requirements for members of a private defined-benefit pension plan who alleged that the plan trustees violated their fiduciary duties. ...more
6/11/2020
/ Article III ,
Breach of Duty ,
Defined Benefit Plans ,
Duty of Loyalty ,
Duty of Prudence ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Injury-in-Fact ,
Investment Adviser ,
Mismanagement ,
Pensions ,
Plan Participants ,
Retirement Plan ,
SCOTUS ,
Standing ,
Thole v U.S. Bank
On December 12, 2019, the California Court of Appeal for the First Appellate District handed down a unanimous decision in Luke v. County of Sonoma, Sonoma County Employees’ Retirement Association, et al., affirming the...more
12/17/2019
/ Appeals ,
CalSTRS ,
Compensation & Benefits ,
Employee Benefits ,
Pensions ,
Public Employees ,
Public Pension ,
Retirement Plan ,
State and Local Government ,
Statute of Limitations ,
Time-Barred Claims
The evolution of vested rights jurisprudence in California is far from over, with the Second District Court of Appeal (“DCA”) stepping into the fray with its June 19, 2018 decision, Hipsher v. Los Angeles County Employees...more
The United States Constitution provides that “[n]o state shall … pass any … Law impairing the Obligation of Contracts.” (U.S. Constit., Art. I, § 10.) Alongside state constitutional guarantees, the federal Contracts Clause...more
In the latest state appellate decision addressing the constitutionality of the California Public Employees’ Pension Reform Act of 2013 (“PEPRA”) and other recent pension reform legislation, Division One of the First District...more
3/28/2018
/ Appeals ,
Compensation & Benefits ,
Constitutional Challenges ,
Employee Benefits ,
Estoppel ,
Judges ,
Pensions ,
Popular ,
Public Employees ,
Public Employees’ Pension Reform Act of 2013 (PEPRA) ,
Public Pension ,
Retirement Plan ,
State and Local Government ,
Vested Benefits
In the latest twist in California’s pending vested rights litigation, parties on all sides of Alameda County Deputy Sheriff’s Assn. et al v. Alameda County Employees’ Retirement Assn., et al. (2018) 19 Cal.App.5th 61...more
In 2017, Oregon Governor Kate Brown convened a special task force (Task Force) to study opportunities for the State and local agency employers to reduce the unfunded actuarial liabilities of the Oregon Public Employee...more