C.A. Upholds Constitutionality of Public Employee Pension Cuts

2015-01-27T22:38:22-08:00January 27th, 2015|Categories: Pension Funding|Tags: , |

A statute reducing retirement benefits for some public employees may be applied to workers hired between the law’s effective date and the expiration of collective bargaining agreements otherwise requiring a greater benefit, the Fourth District Court of Appeal ruled yesterday. Div. One said application to those employees of the defined benefit formulas in the California Public Employees’ Pension Reform Act of 2013 does not violate the state Constitution’s contract clause. The panel also held, however, that the plain language [...]