Tag "Pension Reform"

Back to homepage

Controller: No CalPERS controls on pension spiking

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.

Read More

In debate gaffe, Jerry Brown channels Gerald Ford

The Sacramento press corps has been acting bored with the governor’s race ever since the spectacle of Tim Donnelly as the GOP nominee faded away. So now we have a debate in which Jerry Brown makes a debate gaffe as

Read More

Is Gov. Brown disinterested in pension reform?

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

Read More

LA, CA still avoiding pension reality 51

The ultimate pension reform is Detroit-style bankruptcy, with retirees getting less than what they are owed by contract. As the NY Times reported on July 22: “DETROIT — Coming to terms with what came to be seen as inevitable, this

Read More

19 CA members of Congress take pensions

Former San Diego city councilman and mayoral candidate Carl DeMaio, who brought comprehensive pension reform to San Diego, is taking his fight to Capitol Hill. A new report published by the GOP congressional candidate identified 102 members of Congress that

Read More

CA cities gain tool to chop retirement benefits

A cliche in government circles is that there is no “magic bullet” available to address many big, difficult problems. But thanks to a recent action by the California Supreme Court, many local governments now do have a “magic bullet” to

Read More

Longevity breakthroughs make gov pensions even more of a gold mine

On Sunday the Drudge Report sent Twitter abuzz with the report of a hugely significant breakthrough on aging and longevity: “It may seem the stuff of gothic horror novels, but transfusions of young blood could reverse the ageing process and

Read More

Video: Can CA tax its way to prosperity?

California taxes are going up, but according to Americans for Tax Reform’s Grover Norquist, the new revenue isn’t going solve any problems. He explains why real change in the state need to come in the form of pension reform.

Read More

Why CalSTRS fix is impossible: It would force cut in teacher take-home pay

The California State Teachers’ Retirement System is terribly underfunded. The last official report put its shortfall at $74 billion. State officials say it needs an infusion of $4 billion more money a year for decades to come. This week, as

Read More