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CalPERS pressed to divest from energy firms, banks

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

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Rising pension costs threaten California school funding

  In a shock critics had warned against, Golden State schools discovered that their nation’s largest pension system, CalPERS, was on track to force substantial budgetary cutbacks on core education spending.  “Public schools around California are bracing for a crisis driven by

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California sales tax dips, but tax burden rises

  “Four years ago, voters approved Proposition 30, which raised the income tax significantly on the wealthiest Californians and raised the sales tax a tiny bit on everyone,” Capital Public Radio recently recalled. “That quarter-of-a-cent increase equated to paying an additional $0.01 on

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CalWatchdog Morning Read – January 5

CA cities’ pension costs rise to meet CalPERS expectations SD mayor running for governor? Legislator wants to move state’s primary date  University of California wants to raise tuition Rep. Issa proposes high-skilled visa overhaul Good morning! TGIT. We begin this

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California cities facing growing pension costs in new year

SACRAMENTO – After two years of miniscule investment returns, the nation’s largest state pension fund – the California Public Employees’ Retirement System – has once again lowered its expected rates of return. Even some CalPERS officials and consultants argue the

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CalWatchdog Morning Read – December 28

New laws going in effect Gun sales on the rise Life expectancy plateau is good news for pensions Oakland for decades failed to inspect illegally converted warehouses like Ghost Ship Sierra Nevada snowpack below average Good morning. Happy Hump Day.

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Bad news for U.S. is good news for CalPERS, CalSTRS

The California Public Employees’ Retirement System has not had a good 2016. Its investment returns were microscopic, it faced sharp criticism from a prominent financial website for alleged unethical behavior and Gov. Jerry Brown had to intervene to prevent the nation’s largest

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CalPERS considers – then rejects – efforts to end tobacco divestment

SACRAMENTO – As the nation’s largest state-based pension fund, the California Public Employees’ Retirement System is known for using its massive investment muscle to promote various social-investment causes. So-called ESGs – Environmental, Social and Governance issues – are a major

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CA Supreme Court to review pension case with nationwide implications

  Reigniting a perpetually smoldering debate with nationwide implications, the California State Supreme Court agreed to consider whether rules cracking down on pension boosting strategies could be applied to unionized government workers.  “A state appeals court in San Francisco ruled in a

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CalWatchdog Morning Read – November 29

Mr. Issa goes (back) to Washington Democrats grab legislative supermajorities Police-reform spotlight shines on the local level CalPERS misses Wells Fargo warning signs Startup aims to end dial-for-dollars How CA became so blue Good morning. Happy Tuesday. The Associated Press

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