Promised Benefits Protected, CalPERS Analysis Finds
A legal analysis conducted by CalPERS concludes that pension promises made to current and retired members of the public pension fund are a "vested right" that is protected by state and federal laws. For the analysis, CalPERS looked at more than 12 California appellate cases over the last 70 years. According to CalPERS, pension reform proposals would have to meet the requirements of the state constitution's contract clause. It adds that even if an amendment to the state constitution is passed, the contract clause of the U.S. Constitution offers similar protections.
- "Analysis: Promised CalPERS Benefits Are Protected" (Robertson, Sacramento Business Journal, 7/15).