News & Analysis as of

State and Local Government California Public Employees Retirement System

Allen Matkins

Godot Is Still Waiting . . .

Allen Matkins on

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

Allen Matkins

The Cost Of Justice In Nevada

Allen Matkins on

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

Best Best & Krieger LLP

Take Care When Cost-Sharing Under CalPERS

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

Best Best & Krieger LLP

CalPERS Board Decision on Contract Workers Will Not Become Precedential. Now What? - Contract Workers May Still Be Reclassified as...

The CalPERS Board of Administration will not consider whether to establish the Tracy Fuller decision as a CalPERS precedent, we have confirmed. While the decision to not pursue Fuller as a precedential decision is welcome...more

Best Best & Krieger LLP

California Supreme Court Rules in Cal Fire Case – Round One Goes to the Legislature, But It Ain’t Over

The California Supreme Court recently issued its decision in the Cal Fire Local 2881 v. CalPERS case – the first of six so-called “California Rule” (“Vested Pension Rights”) cases pending before the Court. The California...more

Best Best & Krieger LLP

California Supreme Court Decides Cal Fire Narrowly - Option to Purchase Airtime is Not a Vested Right

As expected, the California Supreme Court affirmed the appellate court’s holding in Cal Fire Local 2881 v. California Public Employees’ Retirement System et al., concluding that the plaintiffs did not have a vested right to...more

Nossaman LLP

California Supreme Court Announces Date for Oral Argument in the First of Its Five Pending Vested Rights Cases

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In a much awaited announcement, on November 8, 2018, the California Supreme Court scheduled oral argument in CalFire Local 2881, et al. v. CalPERS, et al., which is the first of the five pending vested rights cases that are...more

Best Best & Krieger LLP

CalPERS Employers Dodge A Bullet - SB 1124 Would Have Imposed Statutory Liability For Errors In Calpers Reporting

Gov. Jerry Brown vetoed legislation that would have imposed significant liability on CalPERS employers for errors in their CalPERS reporting which result in post-retirement pension reductions....more

Best Best & Krieger LLP

70 Years of Pension Precedent Could Soon Be Weakened by the California Supreme Court - Isabel Safie Provides Insight Into Lawsuits...

It’s a big litigation year for California pensions. The California Supreme Court ruled last month that San Diego’s landmark pension cutback legislation, Proposition B, was illegally placed on the 2012 ballot because city...more

Best Best & Krieger LLP

The Anticipated Demise of the Vested-Rights Doctrine - Cases Before State’s High Court Could Mean Big Changes for Retirement...

California’s cities are in crisis mode. With pension costs outpacing revenue growth and severely underfunded retirement systems (the California Public Employee Retirement System is only 68 percent funded), local...more

Best Best & Krieger LLP

Settlement Reached with CalPERS on Behalf of Truckee BB&K Represented Town in Negotiations

Following a CalPERS audit of the Town of Truckee, Calif. about three years ago, CalPERS determined that merit pay was not PERSable because it was only offered to employees who had reached the maximum on their salary ranges....more

Nossaman LLP

California's Legislature Puts Additional Disclosure Pressure on Fund Managers with the Passage of AB 2833

Nossaman LLP on

On August 24th, the California Legislature approved Assembly Bill No. 2833 (“AB 2833”), which is now headed to Governor Jerry Brown’s desk for signature. If Governor Brown signs the bill, as is expected, all public pension...more

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