Gov. Jerry Brown vetoes bill that would raise funeral benefit for CalPERS members

[TexasTowelie]

Funeral costs may rise, but the one-time benefit families of state employees receive after a loved one’s death is staying flat.

Gov. Jerry Brown on Monday vetoed a bill that would have escalated a death benefit paid by the California Public Employees Retirement System that’s intended to offset funeral costs for some of its members.

The $2,000 benefit has not increased since 2000. It was first paid in 1945, when it was $300.

In a veto message, Brown wrote that he was concerned about CalPERS unfunded pension liabilities. This year, CalPERS is expected to pay about $1.2 billion more in benefits than it earns from its investment income.

Read more here: http://www.sacbee.com/news/politics-government/the-state-worker/article104306421.html

[SusanCalvin]

1. Sounds reasonable to me.

Even $2,000 seems like a pretty generous benefit, as these things go.

[Travis_0004]

2. Agreed

With a 1 billion deficit this year, I dont think increasing it is a good idea.