Tag "CalPERS"

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Calif. retiree health care time bomb is ticking 28

Aug. 3, 2012 By Dave Roberts When discussing California’s exorbitant benefits for state government employees that are threatening to bankrupt the state, much of the focus has been on pensions. And rightly so, with estimates of the unfunded pension liability

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California needs adult supervision 0

April 9, 2012 By Katy Grimes More than ever, California is a state run by children. Selfish, self-absorbed state officials and lawmakers have been implementing pet policies and legislation for so many decades, they are now arguing among themselves over

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CalPERS Funding Might Be Only 40 Percent Funded 23

John Seiler: As we’ve been warning here on CalWatchDog.com for more than two years now, CalPERS’ funding is way too low. I’ve written before how CalPERS might only be funded at the 55 percent level. It turns out that even

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Special Series: Bond Holders Seek Governmental Transparency 2

Editor’s Note: This is the fourth in a CalWatchDog.com Special Series of 12 in-depth articles on municipal bankruptcy. MARCH 20, 2012 By DAVE ROBERTS Once upon a time buying a municipal bond was considered a safe bet. A decent rate

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Stock Market Not Helping Pension Funds 0

FEB. 10, 2012 By JOHN SEILER California Pension Reform just suspended its attempt to put an initiative on the November ballot. It ran out of money — sort of like the pension funds themselves. Meanwhile, the stock market seems to

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CalSTRS Drops Fund Projections 0

John Seiler: Putting its investment projections slightly more in line with reality, yesterday CalSTRS downgraded its fund forecast. According to its own announcement, “The governing board of the California State Teachers’ Retirement System (CalSTRS) today adopted a new set of

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Despite Gain, CalPERS Still Underfunded 11

JULY 22, 2100 By LANNY EBENSTEIN The recent announcement that the investment return of CalPERS for the 2010-11 fiscal year was 20.7 percent does not indicate that it, or other public sector pension funds, are now financially solvent. Indeed, the

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CalPERS Needs Bailout Despite 21% Gain 6

JULY 19, 2011 By WAYNE LUSVARDI CalPERS made an anemic 3.41 percent return over the last five years and only 0.98 percent over the last three years, falling far short of the 7.75 percent annual target return it needs to

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Will unions now thank Wall Street? 0

Steven Greenhut: Last week, I was a witness on a mock trial at Freedom Fest, in which public employee unions were in the dock over the detrimental effect of their pensions on the public treasury. It was a fun event,

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California Takes Huge Leap Toward Default 6

MARCH 15, 2011 BY CHRISS STREET California taxpayers just took a huge punch in the nose from the same actuaries who provided the cover for state politicians to spike public employee retirement benefits. The latest shocker comes from California State Controller John

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