California Public Employees’ Retirement System
JP Morgan Chase & Co. will pay nearly $300 million to California’s public employee and teacher pension funds as part of a settlement related to mortgage-related investments.
A federal judge ruled in Oakland that the state’s public-employee pension system must make long-term care insurance equally available to same-sex spouses and partners.
California’s largest public pension fund has voted to lower its estimate for annual investment returns, meaning it will need more money from the state, school districts and local governments to maintain its ability to fund promised retirement benefits.
The city council voted unanimously on Tuesday to notify the California Public Employees’ Retirement System that the city intends to end the pension plan for council members.
A federal judge has issued a favorable ruling for gay-rights advocates involving state employees and long-term health care.