California Public Employees’ Retirement System (CalPERS) has reviewed the pension reform proposal submitted by the California Foundation for Fiscal Responsibility (CFFR). The pension fund has raised concerns over the elimination of health benefits for spouses and dependents of retirees, when a retiree turns 65. CFFR had also suggested that retirees be in an exclusive risk pool. CFFR’s recommendation to modify pensions for current employees is in contrary to the U.S. and Californian constitutions, as per CalPERS. The fund has criticized the report on the grounds that the study is based on artificial models and does not use real data.
Click here for the release from CalPERS.
