Pension Reform

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Only CalPERS internal watchdog on way out

The giant California Public Employees’ Retirement System – with $320 billion-plus in assets, the nation’s largest pension system – is going to lose its only outspoken internal watchdog. J.J. Jelincic – an eight-year incumbent on the CalPERS board who is on leave from

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Gov. Brown’s pension plan gets mixed reviews from reformers

SACRAMENTO – Gov. Jerry Brown and the Legislature mostly have avoided tackling the state’s unfunded pension liabilities, even though these taxpayer-backed debts to pay for pension promises to state and local employees have soared by 22 percent in the last

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State agency loses again in bid to expand clout of collective bargaining

For the second time in five years, state courts have rejected attempts by the California Public Employees Relations Board to sharply expand the sweep and power of state collective bargaining laws. Last week, a three-judge panel of the fourth state

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California high court sets stage for major pension ruling

SACRAMENTO – The battle over reforming California’s underfunded system of pension benefits does not involve any particular legislative proposal or initiative idea at this time but is centered on a coming state Supreme Court battle over an arcane legal concept.

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CalPERS pressed to divest from energy firms, banks

After years of criticism, the California Public Employees’ Retirement System made headlines in December when its board voted to lower the expected rate of return on investments from 7.5 percent to 7 percent over the next three years. The move

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Congress could nix California retirement program

  The House of Representatives voted to axe California’s planned retirement savings program, throwing the future of it and similar efforts around the country into serious doubt. “Despite a plea from California Gov. Jerry Brown, the state’s GOP representatives voted

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California cities facing growing pension costs in new year

SACRAMENTO – After two years of miniscule investment returns, the nation’s largest state pension fund – the California Public Employees’ Retirement System – has once again lowered its expected rates of return. Even some CalPERS officials and consultants argue the

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Bad news for U.S. is good news for CalPERS, CalSTRS

The California Public Employees’ Retirement System has not had a good 2016. Its investment returns were microscopic, it faced sharp criticism from a prominent financial website for alleged unethical behavior and Gov. Jerry Brown had to intervene to prevent the nation’s largest

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CalPERS considers – then rejects – efforts to end tobacco divestment

SACRAMENTO – As the nation’s largest state-based pension fund, the California Public Employees’ Retirement System is known for using its massive investment muscle to promote various social-investment causes. So-called ESGs – Environmental, Social and Governance issues – are a major

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California’s largest public employee union strikes deal with Gov. Brown

  Gov. Jerry Brown came to an agreement with SEIU 1000, resolving a crisis over negotiations with the public employee union, California’s biggest. The bargain struck came relatively close to Brown’s initial offer, sharpening the ongoing debate over how best to budget for

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