Tag "CalPERS"

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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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Alleged CalPERS Corruption 0

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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