Pension Reform

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CA Supreme Court to review pension case with nationwide implications

  Reigniting a perpetually smoldering debate with nationwide implications, the California State Supreme Court agreed to consider whether rules cracking down on pension boosting strategies could be applied to unionized government workers.  “A state appeals court in San Francisco ruled in a

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Union appeal focuses attention on pension precedent

SACRAMENTO – A decision by four Marin County public-employee associations to appeal a pension-related case to the California Supreme Court could ultimately determine whether localities have the tools needed to rein in escalating pension debt. At issue is how far

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CalPERS has faith in imperiled energy status quo

Is the California Public Employees’ Retirement System about to make another big mistake with a mistimed investment strategy, this time in the industrial solar sector? Beginning 13 years ago, CalPERS invested heavily in real estate at the height of the

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LAO raises doubts about teachers’ pension bailout

A new report from the nonpartisan Legislative Analyst’s Office is raising questions about the long-term effectiveness of the Legislature’s 2014 bailout of the California State Teachers’ Retirement System, which will nearly double annual funding to cover CalSTRS’ obligations when it

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LAO: Teacher pension fund too risky and complex

Policy analysts are calling on state lawmakers to simplify the way the teachers’ pension fund gets funded — to improve oversight and to avoid the state being left in a lurch. According to the non-partisan Legislative Analyst’s Office, the “subjective” funding

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Pensions initiative pulled

The landmark effort to take public pension reform straight to the people of California has been withdrawn from ballot consideration. “Beleaguered by fundraising doubts and attacks from organized labor, two former California officials said Monday they are backing off plans

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2011 San Francisco pension fix not panning out

The pension reform measure that San Francisco voters passed in 2011 isn’t yielding the savings that city leaders expected, and for several reasons — one of which should worry all pension-paying institutions. That reason: Retirees are living significantly longer than

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Chuck Reed: Reform measure will bite pension liability ‘elephant’

Former San Jose Mayor Chuck Reed acknowledged at a recent taxpayer forum that his latest proposed pension reform initiatives won’t solve California’s $350 billion unfunded retirement benefit liability problem. But he thinks they’ll help. “Sometimes you have to eat the

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Finance Department urges CalPERS to reduce risk

The California Public Employees’ Retirement System is considering reducing its investment risk with a plan that would be so ineffectual it could lead to a “rate shock” when the pension bills come due, according to the California Department of Finance.

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Pension reform initiative reworked

The leaders of California’s pension reform movement have scrapped their previous effort, introducing two new schemes instead. The news added a fresh twist to the state’s long-running game of political cat and mouse, which has seen state officials labor to cast would-be reforms

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