Tag "pensions"

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Longevity increases pension problems 44

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

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Stockton ruling, like Vergara ruling, shakes CA status quo

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

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CalSTRS shows how to cut debt 23

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

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Gov. Christie: Not all pensions will be paid 46

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

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Feeble CalPERS reform shows Brown who runs Sacramento 75

Taken at face value, the pension reforms touted by Gov. Jerry Brown in 2011 and 2012 were genuinely far-reaching for a California Democrat, even one as allegedly independent as Brown. But from the 2014 perspective, two of the key provisions

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CalSTRS bailout will be CA version of budget sequester 19

On April 10, 2012, I wrote an op-ed for the L.A. Daily News with an unusual take on what ultimately would kill the bullet train. My theory was that the teachers unions would fight to keep a new mouth from

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Pension costs burden CA budget

Gov. Jerry Brown still hasn’t gotten his state’s budget problems beat. A high-profile new report showed California still faces massive liabilities extending far into the future. The study, released by the nonpartisan Legislative Analyst’s Office, tallied over $340 billion in debts, deferred payment and other

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Video: An unsustainable recovery in California

Former California State Finance Director Tom Campbell gives his take on California’s economic outlook.  

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CalSTRS unfunded liability hits new high

The California State Teachers’ Retirement System just announced it faces $73.7 billion in long-term liabilities. Left untouched, that would spell bankruptcy in 2043. For critics of California’s public-employee pensions programs, the grim numbers heighten the urgency for reform. If CalSTRS wants

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Malkenhorst epitome of government service

Bruce Malkenhorst and his $551,000-a-year public pension are back in the news. The Orange County Register reports: A stunning once-secret investigation into the escapades of former Vernon exec Bruce Malkenhorst… alleges that Malkenhorst stealthily and systematically bled hundreds of thousands of dollars from the peculiar

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