Posts Tagged ‘CalPERS’

CalPERS numbers attract fresh scrutiny

Wednesday, November 26th, 2014

The California Public Employees' Retirement System looks to see 2015 as another controversial year, especially around four budding controversies. First, attention has focused in recent weeks around the way CalPERS pays its board members and executives. An investigation by the Sacramento Bee rev...

Modest-seeming CalSTRS pension estimate lacks key context

Tuesday, November 11th, 2014

The California Teachers Association and the California Federation of Teachers do a good job of promoting the narrative that state teacher pensions are very modest at best. It's true that there aren't the same type of outrageous stories that we see in local and state government about police chiefs,...

See tax increases, think pensions

Monday, November 3rd, 2014

  Despite the ridicule heaped on bonuses offered public workers for simply doing their jobs – just one prime example: a librarian earning a bonus for helping members of the public find books – the California Retirement System board last week made sure the bonuses added to salaries will b...

Pension spikes crumbling CA roads

Friday, October 31st, 2014
Los Angeles traffic jam, wikimedia

From roads to bridges and well beyond, California's neglected infrastructure won't receive relief this election cycle. For years, the state has lavished money on other projects -- especially public pensions. Despite a flurry of bad press surrounding the crushing burdens those pensions place on...

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...

Judge: CalPERS not protected in Stockton bankruptcy

Wednesday, October 8th, 2014

After a brief reprieve from a bad summer, the California Public Employees Retirement System has been handed another massive setback. In a provisional but uncompromising ruling, U.S. Bankruptcy Judge Christopher Klein held bankrutpcy law does not permit CalPERS to protect its workers' pensions e...

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...

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...

Brown hits CalPERS on pension spiking

Wednesday, August 27th, 2014

A bad month for CalPERS has gotten worse. On the heels of unfavorable news surrounding its investment strategy and leadership, the California Public Employee Retirement System provoked the wrath of Gov. Jerry Brown, who heaped scorn on its latest "pension spiking" plan. "Today CalPERS got it w...

Kiplinger: CA taxes highest — and state hostile to retirees, too

Wednesday, August 27th, 2014
kip

Over the years, when I've reported that the nation's CEOs continue to rank California as the most anti-business state in the country, I've gotten some blowback in emails and comments that question whether the ranking was manipulated. This is goofy paranoia -- the suggestion by CA Dems and labor type...