Posts Tagged ‘CalPERS’

Cartoon: CalPERS and Stockton

Monday, July 14th, 2014
calpers, cagle, July 14, 2014, wolverton

Backdrop to CalPERS’ many debacles: Agency thinks it’s great

Sunday, July 13th, 2014
pension_reform_money

The giant California Public Employees' Retirement System, as one might suspect from its massive and self-important Sacramento headquarters, thinks it is the bomb -- a flawless organization that should inspire awe in onlookers. Yes, of course, the phenomenon of government agency leaders and their ...

Feeble CalPERS reform shows Brown who runs Sacramento

Tuesday, July 8th, 2014

Taken at face value, the pension reforms touted by Gov. Jerry Brown in 2011 and 2012 were genuinely far-reaching for a California Democrat, even one as allegedly independent as Brown. But from the 2014 perspective, two of the key provisions previously sought by the gov have not only gone nowhere; th...

Longevity breakthroughs make gov pensions even more of a gold mine

Monday, May 5th, 2014

On Sunday the Drudge Report sent Twitter abuzz with the report of a hugely significant breakthrough on aging and longevity: "It may seem the stuff of gothic horror novels, but transfusions of young blood could reverse the ageing process and even cure Alzheimer’s Disease, scientists believe. ... ...

CalPERS just called me

Thursday, March 6th, 2014

At 11:27 am, according to my cell, I got a call from CalPERS, the California Public Employees' Retirement System. At first I thought it was about some news story I had done. I've talked to them before. Then the woman started taking about a "survey." "This is a poll on CalPERS?" I asked. "Ye...

Death, taxes and state incompetence with computer projects

Thursday, February 27th, 2014
government-incompetence-at-work

There are fewer sure things in life than the likelihood the California state government will screw up a computer project. We may be home to Silicon Valley and the greatest concentration of information-technology skills in the world, but once a project unfolds in Sacramento, it almost always goes wro...

Latest scandal: Why you would be nuts to believe CalPERS

Tuesday, February 4th, 2014

The Sacramento Bee has the basic details on a new CalPERS contretemps: "A former CalPERS employee who alleged she was fired for challenging a cover up of insider trades by fund staff settled her wrongful termination case this morning. "Jeannine Carter, who worked in a watchdog unit that makes sure...

Life expectancy gains: new front in CA pension funding woes

Monday, January 20th, 2014

Daniel Borenstein of the Bay Area Newspaper Group had a sharp column Sunday pointing out that delays in acknowledging gains in life expectancy added to the long-term funding problems faced by CalPERS. "The mortality issue exemplifies how CalPERS has set the rates it charges too low. Retirement syst...

CalPERS is worried

Sunday, December 8th, 2013
Bankruptcy convention 2

Last week, U.S. Bankruptcy Judge Steven Rhodes ruled that Detroit city workers' pensions could be part of the Chapter 9 proceedings. So the pensions could be cut substantially. That obviously affects the federal bankruptcy trial for San Bernardino and, potentially, Desert Hot Springs and other Cali...

State finances: LAO’s own report on CalSTRS demolishes LAO’s happy talk

Wednesday, December 4th, 2013
mac.taylor

I'm still struggling to make sense of Legislative Analyst Mac Taylor's bizarrely upbeat report last month on state finances that predicted budget surpluses for years to come -- but barely mentioned the state's huge unfunded liabilities for retiree pensions and health care. Instead of calling for ...