California retirees’ pensions restored — at least partially — after CalPERS cuts

  • Source: Modesto Bee - Metered Site
  • Published: 06/11/2019 08:46 AM

The Sierra County town of Loyalton has reached a settlement agreement with three retired city workers who sued the town and CalPERS after CalPERS reduced the retirees’ pension checks. The terms of the agreement are confidential, including when it was reached, but the 706-person town will pay at least a portion of what it owes the retirees, their attorney said. “Loyalton will pay certain retirement benefits to plaintiffs as part of the settlement,” Seth Wiener, the San Ramon-based attorney representing the retirees, said in a statement. Loyalton Mayor Sarah Jackson declined to comment on the agreement before an upcoming city council meeting. The California Public Employees’ Retirement System reduced the retirees’ checks in November 2016 after Loyalton stopped making required payments to the fund. Like hundreds of other local governments in the state, Loyalton paid CalPERS to administer its workers’ pensions. CalPERS invests the payments and disburses benefits.


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