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  2. California’s Pension Bills to Rise, Echoing Pain in New York

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    (Bloomberg) -- California cities and the state could see their annual pension bills rise as much as 12% because high inflation will lead to cost-of-living adjustments for retirees and pay ...

  3. When will California state employees see pay raises? Here’s ...

    www.aol.com/news/california-state-employees-see...

    The controller’s office has yet to publish a letter with instructions for how to implement raises for the bargaining units represented by the largest union in state civil service, SEIU Local ...

  4. Public employee pension plans in the United States - Wikipedia

    en.wikipedia.org/wiki/Public_employee_pension...

    Pension benefits are primarily designed to favor workers who work a full career (typically at least 25 years of service), which account for approximately 24% of state-level public workers. In a study of 335 statewide retirement plans, Equable Institute found that 74.1% of pension plans in the US served this group of workers well.

  5. CalPERS - Wikipedia

    en.wikipedia.org/wiki/CalPERS

    The California Public Employees' Retirement System (CalPERS) is an agency in the California executive branch that "manages pension and health benefits for more than 1.5 million California public employees, retirees, and their families".

  6. California rule - Wikipedia

    en.wikipedia.org/wiki/California_rule

    The California Rule is a legal doctrine requiring that government workers throughout the state of California receive the pension benefits that were in place on the day they were hired, and that those benefits cannot be reduced (though they can be increased); meaning that mandatory employee contributions cannot be increased, nor can cost-of-living allowances be decreased, not even for not-yet ...

  7. Are California's public pension funds headed for ... - AOL

    www.aol.com/news/californias-public-pension...

    In California, the cumulative assets of 18 of the largest pension funds are expected to drop this year from $1.37 trillion to $1.09 trillion, lowering the funding ratio from 86.8% to 79.6% ...

  8. Defined benefit pension plan - Wikipedia

    en.wikipedia.org/wiki/Defined_benefit_pension_plan

    Defined benefit (DB) pension plan is a type of pension plan in which an employer/sponsor promises a specified pension payment, lump-sum, or combination thereof on retirement that depends on an employee's earnings history, tenure of service and age, rather than depending directly on individual investment returns.

  9. Here are the biggest retirement changes coming in 2023 - AOL

    www.aol.com/finance/biggest-retirement-changes...

    The increase is the largest since 1981, when the COLA was 11.2%, and raises the average retiree benefit by more than $140 per month starting in January, according to the Social Security ...