California Public Employee Retirement Benefits—Assessing Compensation Changes

In 2013, the California legislature passed and Governor Jerry Brown signed the Public Employees’ Pension Reform Act of 2013 (PEPRA). PEPRA lowers pension benefits for new members of most public retirement systems and requires some public employees to contribute more toward funding their defined benefit (DB) pension plans. DB plans have been, and continue to be, an important component of public employee compensation. PEPRA changes California public employees’ overall compensation by reducing benefits, which should lower employer DB plan contributions. This paper: Explains components of public employee compensation and retirement benefits. Compares California state and local government salaries and retirement expenditures to other states. Uses hypothetical scenarios to estimate: » The monetary value of DB plans and Social Security » PEPRA benefit formula impacts Compensation and retirement benefits To attract and retain quality employees, government employers balance salaries, pensions and other benefits. While salaries provide immediate compensation, retirement benefits provide deferred compensation. The deferred nature of retirement benefits allows employers to offset present-day salaries by leveraging long-term investment returns for compensation in retirement.

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Connecticut Department of Energy and Environmental Protectio

The Connecticut Department of Energy and Environmental Protection (DEEP) is dedicated to conserving, improving and protecting Connecticut’s air, water and other natural resources and the environment. It also is charged with making cheaper, cleaner and more reliable energy available for the people and businesses of the state while developing the state’s energy related economy.

OTHER WHITEPAPERS
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The Role of Monopoly in America’s Prescription Drug Crisis

whitePaper | December 10, 2019

The Trump administration, members of Congress from both parties, and many states have introduced proposals to combat high drug prices. Too often missing from these reform efforts, however, is a clear understanding of a root cause of the crisis: the suppression of fair market competition through various forms of monopoly. This white paper examines and proposes solutions for the two main ways that monopoly drives up the costs and lowers the quality of prescription drugs: increasing corporate concentration in the pharmaceutical industry, and the monopoly markets for individual drugs created by a deeply flawed and increasingly abused patent and regulatory system.

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Security Clearances for Contractors and Government Employees

whitePaper | January 29, 2020

Individual government contractors face more rigorous scrutiny, as private companies can monitor employee’s social media as part of their continuous vetting and insider threat protocols. However, despite the existence of a directive permitting them to do so, government agencies do not monitor their employees’ social media. Our interviews found this is due to a lack of clear guidance on how to implement the existing directives and security policies. This shortcoming can be remedied by government agencies agreeing upon a single common standard regarding the use of publicly available electronic information, specifically social media, for personnel security and insider threat purposes. The DNI, as Security Executive Agent for the government, must then develop guidelines for the implementation of this standard throughout the sector.

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Council Of Economic Advisers & Office Of Management And Budget

whitePaper | March 13, 2023

The intensifying impacts of climate change create challenges for the environment, public health, and the economy. President Biden set an ambitious target for the United States to achieve a 50-52 percent reduction in annual greenhouse gas emissions1 from 2005 levels by 2030, and is mobilizing a whole-of-government approach to climate action, capitalizing on major legislative achievements, through policies in the 2024 fiscal year budget that hasten and smooth the transition to a net-zero economy.

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BLUEPRINT FOR AN AI BILL OF RIGHTS MAKING AUTOMATED SYSTEMS WORK FOR THE AMERICAN PEOPLE

whitePaper | October 4, 2022

The Blueprint for an AI Bill of Rights: Making Automated Systems Work for the American People was published by the White House Office of Science and Technology Policy in October 2022. This framework was released one year after OSTP announced the launch of a process to develop “a bill of rights for an AI-powered world.” Its release follows a year of public engagement to inform this initiative.

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Open Public Services White Paper

whitePaper | July 1, 2022

We believe that more open public services can benefit everybody in the UK and that finding ways to deliver better services for less money is a challenge that is common to all four nations of the UK. The scope of this paper is UK wide, but in devolved areas of policy it is for the devolved administrations to determine their own approach to public service reform. The three devolution settlements in Scotland, Wales and Northern Ireland are all different although, in general, services such as health, education and those provided by local government are under devolved control. If you live or work in any of the devolved territories and are in any doubt as to which of these reforms would apply there, the relevant territorial office will be able to advise you. We are committed to working in partnership with the devolved administrations to share good practice and to explore whether our approach would suit their particular circumstances and need.

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HOW DATA STEWARDSHIP WINS RACES!

whitePaper | July 4, 2022

Keeping a racecar running at peak performance for 24 hours straight is no easy feat. Every aspect of design, engineering, strategy, and performance is pushed to the limit. The process of finishing a race involves hundreds of team members working together round th

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Spotlight

Connecticut Department of Energy and Environmental Protectio

The Connecticut Department of Energy and Environmental Protection (DEEP) is dedicated to conserving, improving and protecting Connecticut’s air, water and other natural resources and the environment. It also is charged with making cheaper, cleaner and more reliable energy available for the people and businesses of the state while developing the state’s energy related economy.

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