Pension Reform

California pension funds pushed by politicians to divest from gun industry

SACRAMENTO – California’s two major pension funds, the California Public Employees’ Retirement System (CalPERS) and the California State Teachers’ Retirement System (CalSTRS), control more than $500 billion in total assets, making them two of Wall Street’s most influential investors. They

CalPERS critic makes runoff for CalPERS board

Chris Reed October 10, 2017

The underfunded California Public Employees’ Retirement System faces daunting challenges in coming years, with local governments increasingly vocal about not being able to afford the ever-growing cost of their CalPERS-managed pension programs, as CalWatchdog reported July 20. The nation’s largest

CalPERS’ divestment goals in crosshairs as coal stocks soar

Steven Greenhut August 9, 2017

SACRAMENTO – A newly released report from the California Public Employees’ Retirement System confirms that, fulfilling the Legislature’s directive to divest from coal-related investments, the pension fund has now largely exited from coal stocks. But as news reports this week

Local governments in no mood for CalPERS’ happy talk

Chris Reed July 20, 2017

Last week’s announcement by the California Public Employees’ Retirement System that it had strong 11.2 percent returns on its investment portfolio in 2016-2017 after terrible returns the two preceding years prompted ebullience from the pension giant’s supporters. Sacramento Democratic insider

Only CalPERS internal watchdog on way out

Chris Reed June 12, 2017

The giant California Public Employees’ Retirement System – with $320 billion-plus in assets, the nation’s largest pension system – is going to lose its only outspoken internal watchdog. J.J. Jelincic – an eight-year incumbent on the CalPERS board who is on leave from

Gov. Brown’s pension plan gets mixed reviews from reformers

Steven Greenhut May 30, 2017

SACRAMENTO – Gov. Jerry Brown and the Legislature mostly have avoided tackling the state’s unfunded pension liabilities, even though these taxpayer-backed debts to pay for pension promises to state and local employees have soared by 22 percent in the last

State agency loses again in bid to expand clout of collective bargaining

Chris Reed April 19, 2017

For the second time in five years, state courts have rejected attempts by the California Public Employees Relations Board to sharply expand the sweep and power of state collective bargaining laws. Last week, a three-judge panel of the fourth state

California high court sets stage for major pension ruling

Steven Greenhut April 18, 2017

SACRAMENTO – The battle over reforming California’s underfunded system of pension benefits does not involve any particular legislative proposal or initiative idea at this time but is centered on a coming state Supreme Court battle over an arcane legal concept.

CalPERS pressed to divest from energy firms, banks

Chris Reed February 24, 2017

After years of criticism, the California Public Employees’ Retirement System made headlines in December when its board voted to lower the expected rate of return on investments from 7.5 percent to 7 percent over the next three years. The move

Congress could nix California retirement program

James Poulos February 23, 2017

The House of Representatives voted to axe California’s planned retirement savings program, throwing the future of it and similar efforts around the country into serious doubt. “Despite a plea from California Gov. Jerry Brown, the state’s GOP representatives voted