Pension Reform

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San Jose scraps pension reform measure

In a remarkable move, the city of San Jose walked back its high-profile Measure B scheme to reform its costly public pensions commitments. Striking a deal Losing police to other jurisdictions, Mayor Sam Liccardo faced “enormous pressure to reach a settlement,”

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CalSTRS pension fix harder on taxpayers than UC fix

In the newly enacted 2015-16 state budget, the University of California has agreed to major pension changes, building on revisions already made under Gov. Jerry Brown since 2011. This account is from the Sacramento Bee: As part of an arrangement

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CA pension reformers push ballot measure

The struggle over reforming California’s public pension system has been taken up a new notch. Given the poor track record of past efforts to reform pensions on the statewide level, a bipartisan alliance of former municipal leaders, including ex-San Jose Mayor Chuck Reed and

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Campaign 2016: Bipartisan group files pension reform initiative

The battle over California’s out-of-control public employee pensions could soon move from the courtroom to the ballot box. A bipartisan group of pension reform advocates, led by former San Jose Mayor Chuck Reed and former San Diego Councilman Carl DeMaio, recently filed a

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CA city bankruptcies unnerving bond industry

The fallout from municipal bankruptcies in Stockton and San Bernardino continues to play out in unexpected ways, with old presumptions that most significant creditors would be treated similarly falling to the way side. This week, Franklin Templeton filed vigorous objections

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Courts: Maybe public pensions can be cut

One theme CalWatchdog.com has covered over the years is that public pension programs are not sacrosanct. Although the general interpretation of the California Constitution is that the pensions must be paid — no matter what — if there’s no money,

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New option could cut state retiree medical costs

Fairly well known is California’s state and local pension problem, as much as $500 billion according to a 2011 Stanford University study. Less well known is the coming acute shortage in medical care for such retirees. Last December, Controller John

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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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