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Financial Impact

Agency Eyes Revamp of All California Employee Pension Programs

March 2, 2011
The Little Hoover commission recommended a cap of $80,000 to $90,000 in the amount of salary that can be used to calculate an employee’s pension benefit, a ban on retroactive benefit increases, and setting benefit eligibility ages that do not encourage early retirement.
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Auto Company's Pension Plans Funding Level Improves

March 1, 2011
At year-end 2010, the plans were underfunded by $11.5 billion, a sharp improvement from year-end 2009, when the plans had $16.2 billion in unfunded liabilities, GM disclosed Feb. 24 in reporting its fourth quarter and 2010 financial results.
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Lobbyist Warns About Potential Health Care Reform Pitfalls

November 12, 2010
Executive vice president for ACE Group Holdings Inc. says with restrictions, such as the ban on pre-existing condition exclusions, in place, healthy people in some cases would wait until they were sick to buy coverage, resulting in adverse selection and ultimately forcing insurers to significantly boost premiums, she warned.
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