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Losing your pension? CalPERS wants to shift blame to cities

NOVEMBER 20, 2017 | by Steven Greenhut | LOS ANGELES DAILY NEWS

By Steven Greenhut, includes “… At the pension fund’s recent meeting, its board proposed finding a sponsor for a state bill that would require agencies to notify their employees when they intend to exit the pension fund. The goal is to shift the blame to cities and districts that rely on CalPERS to administer their pension benefits. The proposed legislation shows that CalPERS 'would like someone else to deliver the bad news when local governments quit paying their bills and put a retiree’s pension in jeopardy,' reported the Sacramento Bee.”

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