Pension Reform

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CalSTRS bailout cost: Pension tsunami laps at CA shores 5

Gov. Jerry Brown’s relative stinginess in seeking to hold the line on social services spending and in demanding an end to the practice of state education bonds paying for local districts’ construction dumbfounds some Democrats, who cite a healthier economy

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Upbeat S&P report on CA also has CalSTRS warning 8

The recent Standard & Poor’s report upgrading California’s credit rating prompted headlines not just in the Golden State but in Washington and on Wall Street, where it was depicted as part of Gov. Jerry Brown’s narrative of the state’s continuing

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Top lawyer for controller benefits from much-criticized state perk

The state government’s practice of letting workers defy official state policy and pile up unused vacation days and cash them in upon retirement has been criticized on and off for years. California government watchdogs and journalists have outlined the budget

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Retirement will be painful for most

In an excellent column in the U-T San Diego, Dan McSwain paints a grim retirement picture for almost everybody: For most Americans, it’s tempting to live in denial or outright fantasyland when it comes to paying for retirement. That’s because

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Harsh impact of CalSTRS bailout begins to emerge 4

The deal struck in spring 2014 to bail out the underfunded California State Teachers’ Retirement System will lead school districts, the state and teachers to increase their annual contributions to CalSTRS from $5.9 billion in 2014 to at least $10.9

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Pension reformer Chuck Reed will fight on 28

San Jose is in the center of the world’s economic pulse, Silicon Valley. By all rights, its city treasury ought to be overflowing with digital wealth. Instead it has flirted with bankruptcy because of its burgeoning pension problem — a problem

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Coal ban would boost tax cost of pensions

California public pensions already have a big problem with adequate funding. The nonpartisan state Legislative Analyst pegs the pensions’ unfunded liabilities at $340 billion. It should be obvious what the investment strategy should be for the California Public Employees System,

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CalPERS retirees soon to surpass workers 30

Outgoing San Jose Mayor Chuck Reed, the Democratic pension reformer, has a great joke. He says that, soon, his city will have a single employee; whose only job will be to mail pension checks to retirees. CalPERS is gettin’ there.

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Upbeat LAO report lacks key focus: CalSTRS bailout cost 1

The Legislative Analyst’s Office released an analysis of state revenue this week that suggests the state won’t suffer when temporary tax hikes expire. This is from AP: SACRAMENTO — A steadily improving economy will buffer California’s budget from a drop

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2014’s low turnout eases path for 2016 tenure, pension ballot measures

Rick Claussen, Ned Wigglesworth, and Aaron McLear of the Redwood Pacific consulting group have released an interesting memo that is good news for those considering taking on public employee unions in 2016 with ballot measures putting limits on government pensions

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