Tag "CalPERS"

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San Bernardino will try to hammer ‘Nail House’ loans in 2013

Dec. 3, 2012 By Wayne Lusvardi What are called “nail houses” in China may be coming to the county of San Bernardino in 2013 by using eminent domain as a bail out from unfunded public pension debts. The photo at

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Gov. Brown campaigns for rich public-employee unions

Commentary Oct. 31, 2012 By Mark Cabaniss If you have the stomach, listen to Jesuit seminary dropout (1957)  Gov. Jerry Brown out on the campaign trail recently, selling his newest tax hike, Proposition 30:  “I like to quote from St.

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Breaking public-employee pensions: The political path

Second in a series on public pensions. The first is here. Sept. 27, 2012 By Mark Cabaniss In taking on the California pension problem, the first step is dispelling some large, tenacious and commonly held illusions. The first illusion is

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Yes, we can break public-employee pensions

First on a series on public pensions. Sept. 20, 2012 By Mark Cabaniss The politicians in charge of “doing something” about the ongoing California pension debacle like to play a little game. It goes like this:  They decry the high

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Stockton leads tsunami of Calif. bankruptcies

Aug. 27, 2012 By Troy Anderson During Vallejo’s bankruptcy, which began in 2008, the city cut the number of police in half rather than deal with the “pension problem.” Now, a somewhat similar scenario is playing out in Stockton, a

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Bankruptcy no panacea for pensions

Aug. 20, 2012 By Steven Greenhut SACRAMENTO – Municipal bonds have long been among the safest investments, but a coming wave of municipal bankruptcies in California — and the disturbing way one of those cities is stiffing its bondholders —

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CalPERS reveals its true colors

Steven Greenhut: When the California Public Employees’ Retirement System — the nation’s largest retirement system, albeit one plagued by scandal — was pushing for massive retroactive pension increases for California government employees in 1999, the system released a report that,

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Calif. retiree health care time bomb is ticking

Aug. 3, 2012 By Dave Roberts When discussing California’s exorbitant benefits for state government employees that are threatening to bankrupt the state, much of the focus has been on pensions. And rightly so, with estimates of the unfunded pension liability

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California needs adult supervision

April 9, 2012 By Katy Grimes More than ever, California is a state run by children. Selfish, self-absorbed state officials and lawmakers have been implementing pet policies and legislation for so many decades, they are now arguing among themselves over

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CalPERS Funding Might Be Only 40 Percent Funded

John Seiler: As we’ve been warning here on CalWatchDog.com for more than two years now, CalPERS’ funding is way too low. I’ve written before how CalPERS might only be funded at the 55 percent level. It turns out that even

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