The California Supreme Court agreed to hear a second case over whether vested pension rights can be reduced or eliminated, according to a Wednesday Supreme Court docket decision.
Let us define:
secured in the possession of or assigned to a person.
Ok, the rule is simple. If it is already in possession for future use, then it must be 'Net present valued' and assigned upon contract change.
The problems are the unclear exit procedures for partially vested contracts.. They were written under Franciscan Law, "Whatever the priest says". So simple law applies as soon as we all agree on what the priest said. Butthe priest is likely to say, if you are partially vested,then negotiate, or get a timeline for partials and net present the stuff.
In other words, if dufas taxpayers already gave it away, you cannot get it back. That is the real danger in California is the priest have been replaced by unions.
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