Pension Reform
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Chamber of Commerce touts pension reform, backs pension arsonist
The U.S. Chamber of Commerce stunned a lot of people last month when it endorsed Democrat incumbent Scott Peters over Republican challenger Carl DeMaio in the 52nd congressional district race in an affluent swath of San Diego and its northeastern
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Controller: No CalPERS controls on pension spiking
With the state facing $500 billion in unfunded pension liabilities, you might think the state’s pension funds would do everything they could to make sure the liabilities would not go even higher. To quote the late John Belushi, But nooooooooooooooooooooooooooooooooo.
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Super PAC $ floods Peters vs. DeMaio congressional race
San Diego residents can’t watch a major sporting event without seeing repeated ads paid for by national super PACs trashing congressman Scott Peters, a moderate Democrat, or his Republican opponent, former City Councilman Carl DeMaio, an outspoken libertarian. The flood
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CalSTRS shows how to cut debt
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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In debate gaffe, Jerry Brown channels Gerald Ford
The Sacramento press corps has been acting bored with the governor’s race ever since the spectacle of Tim Donnelly as the GOP nominee faded away. So now we have a debate in which Jerry Brown makes a debate gaffe as
Read MoreDebate: Brown offers up whopper, claims he’s stopped pension spiking
Questioner asks how state can pay for bullet train given House opposition to any further federal funding. Brown ducks question with broad defense of project. “This train makes a lot of sense,” it’s not “crazy,” as Kashkari says. Kashkari: “He’s
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Is Gov. Brown disinterested in pension reform?
Later today, the governing board of the California Public Employees’ Retirement System is expected to pass rules giving state employees 99 ways to spike their “pensionable pay.” Gov. Jerry Brown only objected to one of the 99 bonuses. This is
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Moody’s raises questions about teacher pension funding fix
Soon after the CalSTRS funding fix crafted by the Legislature and Gov. Jerry Brown took effect on July 1, Moody’s Investors Service raised CalSTRS’ bond issuer rating. But six weeks later, Moody’s has put out another release that examines how much
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Petty corruption all too common at CA special districts
The California government agencies that provide water, sewage, trash and other special services are often oblivious to ethical norms and tone-deaf to how their actions look to the outside world. Part of it may be these agencies don’t get the
Read MoreLA, CA still avoiding pension reality
The ultimate pension reform is Detroit-style bankruptcy, with retirees getting less than what they are owed by contract. As the NY Times reported on July 22: “DETROIT — Coming to terms with what came to be seen as inevitable, this
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