Download or read book California Public Employee Pension Reform written by Brian Flinn (Graduate student) and published by . This book was released on 2021 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the great recession of 2009, public employee pensions were put under the microscope after full-blown scandals revealed severe ethical questions regarding public pensions. This opened a Pandora's box of issues related to public pensions, such as how much of the general fund was contributed to ensuring that public employee's pensions promised to them had the financial wherewithal to continue supporting those who are drawing off them. In addition, it shed light on how the California Public Employee Retirement System (CalPERS) discounted rates that each member agency paid to CalPERS and the subsequent effect that those discounts had when the economy was bullish. This gave rise to the Public Employee Pension Reform Act of 2013 (PEPRA). PEPRA required employees to pay more for their pensions for the contractual liabilities that CalPERS had to pay. This study intends to gauge whether or not there's a better way forward for both employees and the governments they serve. Can fledgling governments afford to provide essential services without the restrictive CalPERS costs, or is there something out there that can give competitive pension benefits and be cost-effective so that the cost of delivering government services is not compromised? The information could provide additional data for newly formed cities attempting to determine their future financial sustainability.