Voice of OC (https://voiceofoc.org/tag/orange-county-employees-retirement-system/)
The board of the Orange County Employees Retirement System is scheduled to vote Monday on whether to dock the pension benefits of former county public works executive Carlos Bustamente because of his sex crimes.
Segal Consulting took months to reveal key changes that are slated to trigger at least $12 million per year in extra payments from cities and other public agencies.
The compromise on the pension board comes after an intense debate between conservative and labor appointees.
Supervisors are poised to reappoint the head of the conservative Lincoln Club to represent them on the county employees retirement board.
Leaders from smaller cities are growing increasingly concerned about a more aggressive approach to paying future unfunded liabilities.
Officials are trying to gauge the fiscal impacts of a decision to lower investment assumption rates.
Supervisor John Moorlach says if labor talks don’t produce results this summer, OC could opt for a ballot initiative changing the structure of the local retirement system. Labor leaders decry the move as political grandstanding.
Shaun Skelly says supervisors’ delay in appointing him and new county retirement rules both played roles in his decision.
Republicans and public safety unions used to walk hand-in-hand
through election cycles. Now they’re at each other’s throats.
Orange County IT chief tells his staff that his last day is Dec.
23 — but county CEO pegs his formal separation on Feb. 24. What
gives?