Tag "pensions"

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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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CalPERS just called me 40

At 11:27 am, according to my cell, I got a call from CalPERS, the California Public Employees’ Retirement System. At first I thought it was about some news story I had done. I’ve talked to them before. Then the woman

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Are CA elected officials underpaid? 0

Just after getting a 5 percent raise, Gov.  Jerry Brown, other statewide officials and legislators soon could get another boost, supposedly because they’re “underpaid.” Hey, “California is back,” Brown keeps saying. The CA Dem party is meeting this weekend in Los

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