Welcome, sign in or click here to subscribe.
Login: Password:
     


 

 

  Business

Subscriber content preview

August 15, 2014

Court upholds state's right to repeal pension increases

By GENE JOHNSON
Associated Press

The Legislature had the right to eliminate state employee pension increases that were approved during the stock market boom of the 1990s, the Washington Supreme Court said unanimously Thursday in two decisions that save the state billions of dollars but leave many public employees feeling cheated.

In twin rulings on identical legal issues, the court found that lawmakers were within their rights in 2007 when they repealed a “gain-sharing” benefit that paid employees more when investment returns on pension trust funds exceeded expectations, and in 2011 when they repealed automatic cost-of-living adjustments for certain retirees.


 
. . .


To read this story in full login or purchase a subscription.


Search Stories
 Find:
 With:
 In:
 Depth:
 Sort by:
Advanced options

--