by David G. Ritchie on January 24, 2015
Employee Benefits, Recent Court Decisions, Retirement,
The California Court of Appeal, Fourth District, recently held, in Deputy Sheriffs’ Association of San Diego County v. County of San Diego, that the implementation of new defined benefit formula provisions for “new members” does not impermissibly impair agreements with employee groups where the pre-existing agreements contain conflicting terms.
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by ACS Quantum Design on October 14, 2014
Municipalities facing apparently insurmountable financial obstacles have been keeping a close eye on the City of Stockton as it weaves its way through Chapter 9 bankruptcy. On October 1, 2014, Bankruptcy Judge Christopher Klein made a ruling from the bench that changes the landscape of Chapter 9 bankruptcy as it relates to pension liabilities. Specifically, Judge Klein addressed the constitutional question of whether federal bankruptcy law trumps California law which states that money owed to the state pension fund (CalPERS) must be paid. Judge Klein ruled that it does. However, the ... Continue Reading