Tag "CalPERS"
Back to homepageSpecial Series: Bond Holders Seek Governmental Transparency
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
Read MoreStock Market Not Helping Pension Funds
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
Read MoreCalSTRS Drops Fund Projections
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
Read MoreDespite Gain, CalPERS Still Underfunded
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
Read MoreCalPERS Needs Bailout Despite 21% Gain
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
Read MoreWill unions now thank Wall Street?
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,
Read MoreCalifornia Takes Huge Leap Toward Default
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
Read MoreAlleged CalPERS Corruption
John Seiler: How much more of this are Californians going to take? Will another tax increase be needed? The L.A. Times reports: In a scathing report, a former chief executive of the California public employee pension fund was accused of
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