Pension Reform

CalPERS’ $100K club increases 900%

Wednesday, October 22nd, 2014

Let the good times roll! for those getting pensions from the California Public Employees Retirement System, anyway. The Register reported: Back in 2005, some 1,841 retirees pulled down more than $100,000 a year in pension checks from the California Public Employees’ Retirement System. By 200...

Longevity increases pension problems

Monday, October 13th, 2014

To the consternation of government pension planners, Americans just keep living longer. AP reported: NEW YORK (AP) — Americans are living longer than ever before, according to a new government report filled mostly with good news. U.S. life expectancy inched up again and death rates fell. Rates a...

Post-Stockton, Democrat job-retention myth certain to be exposed

Friday, October 3rd, 2014
job.retention

Both parties have bogus canards that they trot out when convenient. The worst example of this among Republicans is the idea that tax cuts always pay for themselves -- that they lead to higher revenue. It could well be true for capital gains taxes and any other taxes that discourage investment or rei...

Stockton ruling, like Vergara ruling, shakes CA status quo

Thursday, October 2nd, 2014
union-corruption

Californians who think the state status quo is nuts and that public employees amount to a protected class of citizens have gotten unexpected help this year from the state and federal courts. First came Los Angeles Superior Court Judge Rolf True's ruling that teacher tenure laws are unconstitution...

San Jose fire union’s dire claims demolished by 10,000 LAFD job-seekers

Thursday, September 25th, 2014
san.jose.fd

The Rough & Tumble news aggregation website had an unusually helpful juxtaposition of two California news stories on Wednesday. R&T linked to a Mercury-News story detailing how San Jose had finally been given a court's clearance to implement a pension plan in which newly hired firefighters g...

Absurd Prop 2 provision shows extent of teacher unions’ clout

Wednesday, September 17th, 2014
cta.in.charge

If you want an example of just how powerful the teachers unions are in Sacramento, consider Proposition 2. The measure was placed on the November ballot by the Legislature at the urging of Gov. Jerry Brown, who depicts it with about 70 percent persuasiveness as establishing the sort of rainy-day fun...

Chamber of Commerce touts pension reform, backs pension arsonist

Tuesday, September 16th, 2014
USChamber

The U.S. Chamber of Commerce stunned a lot of people last month when it endorsed Democrat incumbent Scott Peters over Republican challenger Carl DeMaio in the 52nd congressional district race in an affluent swath of San Diego and its northeastern suburbs. Peters may be a relatively moderate Democrat...

Controller: No CalPERS controls on pension spiking

Saturday, September 13th, 2014

With the state facing $500 billion in unfunded pension liabilities, you might think the state's pension funds would do everything they could to make sure the liabilities would not go even higher. To quote the late John Belushi, But nooooooooooooooooooooooooooooooooo. Controller John Chiang just i...

Super PAC $ floods Peters vs. DeMaio congressional race

Friday, September 12th, 2014
Congressman.Scott_.Peters

San Diego residents can't watch a major sporting event without seeing repeated ads paid for by national super PACs trashing congressman Scott Peters, a moderate Democrat, or his Republican opponent, former City Councilman Carl DeMaio, an outspoken libertarian. The flood began in August and seems lik...

CalSTRS shows how to cut debt

Tuesday, September 9th, 2014

It turns out public pension debt can be reduced. And the California State Teachers' Retirement System is showing how. CalPensions reports: CalSTRS was bracing to report the nation’s biggest pension debt under new government accounting rules that take effect this fiscal year — $167 billion, an a...