BB&K's Isabel Safie Discusses the Implications of IRS’ Definition of Governmental Plan Status
Bill on Bankruptcy: Stockton May Win the Battle, Lose the War
While motions for summary judgment are usually tricky to obtain in fact-laden employment cases alleging discrimination, failure to accommodate, and failure to engage in the interactive process, the Court of Appeal recently...more
“Increasing allocations will come down to cash flows,” according to Bain & Co. in its recent Global Private Equity Report 2024. The practical impact of net cash flow position for buyout fund investors, reflected in DPI, will...more
The constitutionality of California’s felony forfeiture statute, as applied by the Board of Administration of the California Public Employees’ Retirement System (CalPERS), survived yet another challenge in September 2023,...more
Three bills have recently been proposed by a trio of California state legislators concerning ESG financial disclosures and investing. The first, SB 253, would "require all large corporations that do business in California to...more
On January 30, 2023, the Fourth District Court of Appeal clarified which sorts of retirement benefit payments do and do not count as a “disability allowance” within the context of the reciprocity rules of the County Employees...more
Republican members on the House Committee on the Judiciary have written a letter to the steering committee members of Climate Action 100+, Ceres and CalPERS, requesting documents and seeking information regarding antitrust...more
In the broader world of Environmental, Social & Governance (ESG), Environment, Health & Safety (EHS) compliance is only one threat to industry operators. Another is the growing use of proxy challenges and shareholder actions...more
A possible settlement agreement has fallen through in a suit between CalPERS and a group of policyholders over a 2013 proposed 85 percent rate hike. The agreement would have covered approximately 60,000 policyholders....more
We may learn as early as today whether a pending constitutional challenge to AB 979 will be going to trial in May. AB 979 is California's law requiring publicly held domestic and foreign corporations having their principal...more
The California Public Employees Retirement System (CalPERS) styles itself as the United States' largest public fund. In response to a letter from Governor Newsom, CalPERS has reported that it has over three quarters of a...more
Last month, the Securities and Exchange Commission announced that it was proposing a new rule under the Exchange Act. In an accompanying "fact sheet", the SEC said that it was doing so "to increase transparency and...more
As risks of climate change rise, investors seek greener buildings - The New York Times – October 26 - When the developer Lendlease opens its $600 million residential and office complex in Los Angeles, expected in...more
SB 278 Imposes Increased Statutory Liability for CalPERS Reporting Errors - SB 278 was signed into law on Sept. 27, adding Government Code section 20164.5. Section 20164.5 imposes new liability on employers when CalPERS...more
Unlike much of the world, the U.S. has not turned the corner on the coronavirus outbreak. But you wouldn’t know it by looking at the markets. On Tuesday, the S&P 500 topped out at its highest level ever, “capping a remarkable...more
With “Twit-tok” trending this weekend, you should be unsurprised to learn that Twitter has joined the group of suitors for TikTok, revealing that it’s held preliminary talks with the video-sharing app about a possible combo. ...more
Dramatically escalating the growing tension with China (despite considerable ambiguity in its language), the White House issued executive orders that would “ban all ‘transactions’” with ByteDance, the Chinese owner of TikTok,...more
Never one to let a competitor’s misfortune pass by without looking for an opportunity, Facebook’s Instagram is hoping to capitalize on TikTok’s questionable U.S. status by launching Reels, a new feature that allows users to...more
Modifications Are Permissible Under the California Rule - In a unanimous decision, the California Supreme Court held that changes made to the County Employees’ Retirement Law, known as CERL, by pension reform measures...more
In February, I penned this post about some of Nevada's historic rural courthouses. Recently, I visited Goldfield, Nevada. Although Goldfield is the county seat of Esmeralda County, it has no gas station and no supermarket. ...more
The California Public Employees Retirement System (aka CalPERS) is the largest defined-benefit public pension in the United States. It is governed by a Board of Administration that consists of 13 members who are elected,...more
As the harsh realities of the coronavirus pandemic, along with its widespread impact on all aspects of daily life, continue to shock and numb us all, many cities have already been identified as “high risk” from a financial...more
With overall required contribution rates increasing at an alarming rate, most CalPERS employers – particularly those with significant “classic” safety populations – are looking for help to pay for these obligations....more
With very few exceptions, the rules governing governmental 457(b) plans require a “severance of employment” to occur before a distribution can be made. Recently, we came across yet another of those arcane, little-known rules...more
This month's key California employment law cases involve the Dynamex case and the effect of prior administrative hearing on a civil lawsuit....more
To prepare for and manage significantly increased CalPERS employer contribution rates in the coming years, California public agencies approved the establishment and funding of so-called “pension rate stabilization trusts.” ...more