Details on Governor’s Pension Plan?
CalPERS has released (or someone has leaked) a draft set of comments about the governor’s 12-point pension plan. Much of what is questioned is not relevant to UC which has its own problems with the plan. (See prior posts on the legislative hearings on the plan and other aspects of it.) However, the CalPERS draft makes it clear that there is much more to be resolved than just okaying the governor’s proposed 12 points.
The fact that the proposal has different implications for the various plans that CalPERS administers – something clear from the document – opens the door to the idea that there should be separate policies for different plans. That, in turn, opens the door to UC having already adopted changes suited for its plan and opting out of some statewide solution.
The draft comments are at http://www.calpers.ca.gov/eip-docs/preliminary-analysis.pdf
Also worth noting is a legal test that may come out of an attempt by San Jose to change the benefit formula for current employees going forward:
