That the Committee recommend to the Board that the Unfunded Actuarial Accrued Liability associated with the City’s proposed Early Retirement Incentive Program (ERIP) be amortized over a time period that matches the actuarially-calculated salary savings period from the ERIP – 5 years (Method 2). Method 2 – Match the Amortization Period to the Actuarially-calculated Average …
Los Angeles Prepares for Layoffs Erip R.I.P. With the very real possibility of furloughs getting rescinded after a federal appeals judge ruled unconstitutional the Furlough plan implemented by Prince George County. General Managers are now tasked with making new financial assumptions or resorting to previous layoff lists established to meet the current budgets savings. Departments …
Recently several articles have come out bashing the early retirement plan and the risk to LACERS. Enclosed a few links to some very interesting articles that bring up the point we all have, can we afford it? Lacers is set to recommend it unless the pressure mounts. Is this backroom CYA or more? Citys pension …