States May Have Legal Room To Alter Pension Benefits
Most states, including California, may have more legal room than commonly thought to alter pension promises for current employees, according to a report by the Center for Retirement Research at Boston College. Alicia Munnell -- one of the report's authors -- said she expects more states to take action to alter pension benefits if the courts uphold recent laws in Rhode Island and New Jersey that made changes to current workers' pensions.
- "Study: Changing State and Local Pension Benefits 'Extremely Difficult' but Possible" (Ortiz, "The State Worker," Sacramento Bee, 8/13).