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Upbeat S&P report on CA also has CalSTRS warning

The recent Standard & Poor’s report upgrading California’s credit rating prompted headlines not just in the Golden State but in Washington and on Wall Street, where it was depicted as part of Gov. Jerry Brown’s narrative of the state’s continuing

Comparing CalPERS and CalSTRS with AT&T retirement

Wayne Lusvardi January 27, 2015

Following yesterday’s CalWatchdog.com story, “State pensions improve, but members living longer,” it would be useful to compare California’s two large state retirement funds with a roughly equivalent private one, AT&T. Most private companies have switched to “defined contribution” pension plans, in

State pensions improve, but members living longer

Wayne Lusvardi January 26, 2015

Is it morning in California for the California Public Employees’ Retirement System and the California State Teachers’ Retirement System? Both CalPERS and CalSTRS’ funds have performed better lately, even as members are living longer. CalPERS is doing much better since 2008,

Harsh impact of CalSTRS bailout begins to emerge

Chris Reed January 2, 2015

The deal struck in spring 2014 to bail out the underfunded California State Teachers’ Retirement System will lead school districts, the state and teachers to increase their annual contributions to CalSTRS from $5.9 billion in 2014 to at least $10.9

CalSTRS to sock local school budgets

John Seiler December 30, 2014

California’s pension crisis just keeps getting worse. The major crisis now is the California State Teachers’ Retirement System. Gov. Jerry Brown warned about the crisis in his Jan. 2014 budget proposal, but didn’t do anything about it. Election year. We’ll

CalPERS retirees soon to surpass workers

John Seiler December 5, 2014

Outgoing San Jose Mayor Chuck Reed, the Democratic pension reformer, has a great joke. He says that, soon, his city will have a single employee; whose only job will be to mail pension checks to retirees. CalPERS is gettin’ there.

Upbeat LAO report lacks key focus: CalSTRS bailout cost

Chris Reed November 21, 2014

The Legislative Analyst’s Office released an analysis of state revenue this week that suggests the state won’t suffer when temporary tax hikes expire. This is from AP: SACRAMENTO — A steadily improving economy will buffer California’s budget from a drop

Modest-seeming CalSTRS pension estimate lacks key context

Chris Reed November 11, 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

CalSTRS shows how to cut debt

John Seiler September 9, 2014

It turns out public pension debt can be reduced. And the California State Teachers’ Retirement System is showing how. CalPensions reports: CalSTRS was bracing to report the nation’s biggest pension debt under new government accounting rules that take effect this

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

Chris Reed August 27, 2014

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