Tag "Pension Reform"

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California cities facing growing pension costs in new year

SACRAMENTO – After two years of miniscule investment returns, the nation’s largest state pension fund – the California Public Employees’ Retirement System – has once again lowered its expected rates of return. Even some CalPERS officials and consultants argue the

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CalWatchdog Morning Read – December 28

New laws going in effect Gun sales on the rise Life expectancy plateau is good news for pensions Oakland for decades failed to inspect illegally converted warehouses like Ghost Ship Sierra Nevada snowpack below average Good morning. Happy Hump Day.

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CalWatchdog Morning Read – November 30

U.S./Mexico water negotiations closely watched State strikes back at union threatening walkout CA Supreme Court to consider landmark pension ruling SF considering $5 million plan to defend those facing deportation ICYMI: What a Democratic supermajority means for the state Good morning.

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CalPERS staff nudges board to consider lower return rates

SACRAMENTO – There’s bad news coming down the pike for California municipalities following several days of board meetings for the nation’s largest state-based pension fund. Although no action has been taken, it’s clear the California Public Employees’ Retirement System, or

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CalWatchdog Morning Read – October 12

Escalating pension debt may rest on CA Supreme Court ruling Is the state free of liability in Secure Choice retirement plan? Gloria Allred goes after Trump tapes New battle over bilingual education Crowdfunding effort to get Trump tapes  Good morning.

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Union appeal focuses attention on pension precedent

SACRAMENTO – A decision by four Marin County public-employee associations to appeal a pension-related case to the California Supreme Court could ultimately determine whether localities have the tools needed to rein in escalating pension debt. At issue is how far

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Court ruling opens avenue for pension reform

SACRAMENTO – An Aug. 17 California appeals court ruling rejected a public employee union’s claim that its members had a right to “pension spiking,” which the court described as “various stratagems and ploys to inflate their income and retirement benefits.”

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LAO raises doubts about teachers’ pension bailout

A new report from the nonpartisan Legislative Analyst’s Office is raising questions about the long-term effectiveness of the Legislature’s 2014 bailout of the California State Teachers’ Retirement System, which will nearly double annual funding to cover CalSTRS’ obligations when it

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Chuck Reed: Reform measure will bite pension liability ‘elephant’

Former San Jose Mayor Chuck Reed acknowledged at a recent taxpayer forum that his latest proposed pension reform initiatives won’t solve California’s $350 billion unfunded retirement benefit liability problem. But he thinks they’ll help. “Sometimes you have to eat the

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DeMaio/Reed pension reform initiative may be pushed back to 2018 ballot

Over the weekend, two sources indicated to me that the Chuck Reed/Carl DeMaio pension reform initiative would be pulled, re-written, and re-submitted to the attorney general for a new title and summary. If it is to be re-filed, it is

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