Pension Reform

2011 San Francisco pension fix not panning out

The pension reform measure that San Francisco voters passed in 2011 isn’t yielding the savings that city leaders expected, and for several reasons — one of which should worry all pension-paying institutions. That reason: Retirees are living significantly longer than

Chuck Reed: Reform measure will bite pension liability ‘elephant’

Dave Roberts November 10, 2015

Former San Jose Mayor Chuck Reed acknowledged at a recent taxpayer forum that his latest proposed pension reform initiatives won’t solve California’s $350 billion unfunded retirement benefit liability problem. But he thinks they’ll help. “Sometimes you have to eat the

Finance Department urges CalPERS to reduce risk

Dave Roberts October 30, 2015

The California Public Employees’ Retirement System is considering reducing its investment risk with a plan that would be so ineffectual it could lead to a “rate shock” when the pension bills come due, according to the California Department of Finance.

Pension reform initiative reworked

James Poulos October 7, 2015

The leaders of California’s pension reform movement have scrapped their previous effort, introducing two new schemes instead. The news added a fresh twist to the state’s long-running game of political cat and mouse, which has seen state officials labor to cast would-be reforms

DeMaio/Reed pension reform initiative may be pushed back to 2018 ballot

Joel Fox September 22, 2015

Over the weekend, two sources indicated to me that the Chuck Reed/Carl DeMaio pension reform initiative would be pulled, re-written, and re-submitted to the attorney general for a new title and summary. If it is to be re-filed, it is

San Jose scraps pension reform measure

James Poulos August 20, 2015

In a remarkable move, the city of San Jose walked back its high-profile Measure B scheme to reform its costly public pensions commitments. Striking a deal Losing police to other jurisdictions, Mayor Sam Liccardo faced “enormous pressure to reach a settlement,”

CalSTRS pension fix harder on taxpayers than UC fix

Chris Reed June 30, 2015

In the newly enacted 2015-16 state budget, the University of California has agreed to major pension changes, building on revisions already made under Gov. Jerry Brown since 2011. This account is from the Sacramento Bee: As part of an arrangement

CA pension reformers push ballot measure

James Poulos June 25, 2015

The struggle over reforming California’s public pension system has been taken up a new notch. Given the poor track record of past efforts to reform pensions on the statewide level, a bipartisan alliance of former municipal leaders, including ex-San Jose Mayor Chuck Reed and

Campaign 2016: Bipartisan group files pension reform initiative

John June 9, 2015

The battle over California’s out-of-control public employee pensions could soon move from the courtroom to the ballot box. A bipartisan group of pension reform advocates, led by former San Jose Mayor Chuck Reed and former San Diego Councilman Carl DeMaio, recently filed a

CA city bankruptcies unnerving bond industry

Chris Reed March 27, 2015

The fallout from municipal bankruptcies in Stockton and San Bernardino continues to play out in unexpected ways, with old presumptions that most significant creditors would be treated similarly falling to the way side. This week, Franklin Templeton filed vigorous objections