Pension Reform
Back to homepageDetroit to renege on pensions? CA next?
June 16, 2013 By John Seiler California’s finances are overflowing today. The Legislature just passed a $96.3 billion budget, although Gov. Jerry Brown still will have its say. It reminds me of the Detroit of my youth in the 1960s,
Read MoreNo spare change under the dome
May 20, 2013 By Katy Grimes During his press briefing last week while discussing the state’s lack of budgeting flexibility, Gov. Jerry Brown said, “Anyone who thinks there’s spare change around here, they haven’t read the budget.” Brown released his
Read MoreCollective bargaining behind the scenes
May 15, 2013 By Katy Grimes Government employees’ salaries and benefits, and in particular, pensions, are financially unsustainable in California. It is clear that collective bargaining reform is needed. But in a state run by politicians elected largely with the
Read MoreYes, govt. pensions can be completely canceled
May 15, 2013 By John Seiler We’re constantly told that California governments have a “constitutional obligation” to pay for the pensions of public-sector employees. Except when there’s no money left. If a city, county or even the state goes absolutely
Read MoreLAT’s Steve Lopez: Pension crisis real — not unions’ fault. Huh?
April 24, 2013 By Chris Reed The unsustainability of the public employee pension system in California has been obvious for at least six or seven years to anyone who understood two simple facts: the demographics of our aging government workforce
Read MoreSEC charges Chicago-based investment adviser with defrauding CalPERS
April 18, 2013 By Josephine Djuhana The SEC released a statement today, charging Chicago-based investment advisory firm Simran Capital Management with lying to CalPERS regarding the amount of money managed by the firm. The president and sole owner of the
Read MoreBankruptcy judge rejects CalPERS’ claim to protected status
April 3, 2013 By Chris Reed As John Seiler pointed out here Tuesday, Monday’s court ruling by U.S. Bankruptcy Judge Christopher Klein isn’t seen as definitive. Yes, the city of Stockton can proceed with its bankruptcy filing. No, Klein doesn’t yet
Read MoreSteve Maviglio, pension sage: Why it’s a laughable spectacle
April 2, 2013 By Chris Reed Steve Maviglio, a leading consigliere to top Sacramento Democrats for more than a decade, now regularly pretends to a new role. Even though he’s on Speaker John Perez’s payroll, Maviglio offers himself up on
Read MoreReuters bests state media at covering San Bernardino’s collapse
April 1, 2013 By Chris Reed If you had to fashion a nut graph to explain why so many local California governments are in deep fiscal trouble, here’s my nominee for an honest generic overview: Over the past 20 years,
Read MoreWhy CA is so screwed up, in a nutshell
March 31, 2013 By Chris Reed So CalPERS’ actuary, in a fit of unusual honesty, says the pension giant’s finances are in bad shape in the long run and need to be firmed up. But Alan Milligan realizes that asking
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