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CalPERS just called me
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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CalPERS rate hike slams cities
Californians are finding out how Gov. Jerry Brown is going to deal with the state’s pension crisis: make the taxpayers pay for it. This from CalPensions: A divided CalPERS board yesterday approved a faster rate hike for the state urged
Read MoreLongevity hurting CalPERS
The California Public Employees Retirement System has a new problem: retirees are living longer. That means their pension payouts continue longer than was planned for. Reported AP: SACRAMENTO, Calif. (AP) — Gov. Jerry Brown on Wednesday urged California’s largest public
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Latest scandal: Why you would be nuts to believe CalPERS
The Sacramento Bee has the basic details on a new CalPERS contretemps: “A former CalPERS employee who alleged she was fired for challenging a cover up of insider trades by fund staff settled her wrongful termination case this morning. “Jeannine
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CalPERS is worried
Last week, U.S. Bankruptcy Judge Steven Rhodes ruled that Detroit city workers’ pensions could be part of the Chapter 9 proceedings. So the pensions could be cut substantially. That obviously affects the federal bankruptcy trial for San Bernardino and, potentially, Desert
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Federal judge rebuffs CalPERS, OK’s San Bernardino bankruptcy
In a victory for taxpayers, a federal judge ruled Wednesday that the City of San Bernardino is eligible to file for bankruptcy. That trumped the claims of the California Public Employees Pension System that the court had the paramount right
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Inflation could quickly erode CalPERS pensions
CalPERS retirees could be in for a surprise. The California Public Employment Retirement System payments include a 2 percent inflation increase every year, called a Cost of Living Adjustment. In recent years, the federal government’s Consumer Price Index, which tracks inflation, has
Read MoreSeniors decry CalPERS long-term care rate hikes
May 10, 2013 By Dave Roberts If you’re curious what health care insurance might be like when the government takes it over, a preview was provided on Tuesday at an informational hearing of the Assembly Committee on Aging and Long-Term
Read MoreCrazifornia: CalPERS Death Star looming nearer still
May 3, 2013 By Laer Pearce I have a financial planner friend who often includes tax-free municipal bonds in his customers’ portfolios and therefore closely tracks matters like the Stockton bankruptcy’s potential impact on municipal bond rates. He definitely did
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