COURTS: One pension-spiking tool can be scaled back now, but the ‘California Rule’ (which makes cutting pensions almost impossible) remains intact.

Public employees in California still have it very good indeed.

(From Reason)

The ruling leaves intact what is known as the “California Rule,” a series of court precedents that have set up a legal regime where the state and its municipalities are only able to alter pensions benefits in one direction: more. Even as pension obligations threaten to bankrupt cities and even the entire state, courts have consistently ruled that pension benefits for employees cannot be scaled back once they have been offered.

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