Headline: California Pension Overhaul Bills Killed
Publication: Chief Investment Officer
Article Date: Apr 27, 2018
“A California state Senate committee has rejected a trio of pension overhaul bills that were intended to stem rising pension costs for the state. The bills that were rejected include a bill that would have barred pension funds that are less than 80% funded from providing cost-of-living adjustments; one that would have allowed local governments to leave CalPERS without paying large termination fees; and a third that would have allowed new state workers to opt for a 401(k) plan instead of a defined benefit pension.” Read article…