Compass
|
AimPoint Pension
|
Regional Vice President of Sales The Retirement Plan Company
|
Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
|
Bates & Company, Inc.
|
Loan & Distribution Specialist AimPoint Pension
|
“BenefitsLink continues to be the most valuable resource we have at the firm.”
-- An attorney subscriber
Legal Issues When a California Public Agency Attempts an Employee Benefits Reduction
Chang Ruthenberg & Long PC [Guidance Overview] May 6, 2009
Excerpt: Although seldom discussed, it is well settled in California that the terms and conditions of public employment applicable to retirement and certain other benefit rights cannot be destroyed without impairing a contractual obligation of the employer. This principle rests upon the 'contract clause' of the United States Constitution, which prohibits any state from passing a law 'impairing the obligation of contracts.' Under the contract clause, the seminal case law in this area provides that a 'state can no more impair, by legislation, the obligation of its own contracts, than it can impair the obligation of the contracts of individuals.'
|
Please click here to report this link if it is broken (for example, if you see a "404 File Not Found" error message after you click on the linked news item's title). |
An important word about authorship: BenefitsLink® created this link to the news item, but we are not the news item's author (unless expressly shown above). |