Posts Tagged ‘CalPERS’

NEW: 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...

Is Gov. Brown disinterested in pension reform?

Wednesday, August 20th, 2014

Later today, the governing board of the California Public Employees' Retirement System is expected to pass rules giving state employees 99 ways to spike their "pensionable pay." Gov. Jerry Brown only objected to one of the 99 bonuses. This is the same governor who billed his 2012 pension reform l...

Gov. Christie: Not all pensions will be paid

Sunday, August 3rd, 2014

Chris Cristie is the governor of New Jersey. But he has given a wake-up call to all states with public pension problems, including California. The latest: BELMAR, N.J. — Pension reform is going to involve breaking some promises, including reducing benefits that public employees were counting on ...

Cartoon: CalPERS and Stockton

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