Tag "CalPERS"
Back to homepage
Modest-seeming CalSTRS pension estimate lacks key context
The California Teachers Association and the California Federation of Teachers do a good job of promoting the narrative that state teacher pensions are very modest at best. It’s true that there aren’t the same type of outrageous stories that we see in
Read More
See tax increases, think pensions
Despite the ridicule heaped on bonuses offered public workers for simply doing their jobs – just one prime example: a librarian earning a bonus for helping members of the public find books – the California Retirement System board last
Read More
Pension spikes crumbling CA roads
From roads to bridges and well beyond, California’s neglected infrastructure won’t receive relief this election cycle. For years, the state has lavished money on other projects — especially public pensions. Despite a flurry of bad press surrounding the crushing burdens those pensions
Read More
Longevity increases pension problems
To the consternation of government pension planners, Americans just keep living longer. AP reported: NEW YORK (AP) — Americans are living longer than ever before, according to a new government report filled mostly with good news. U.S. life expectancy inched
Read More
Judge: CalPERS not protected in Stockton bankruptcy
After a brief reprieve from a bad summer, the California Public Employees Retirement System has been handed another massive setback. In a provisional but uncompromising ruling, U.S. Bankruptcy Judge Christopher Klein held bankrutpcy law does not permit CalPERS to protect its workers’
Read More
Stockton ruling, like Vergara ruling, shakes CA status quo
Californians who think the state status quo is nuts and that public employees amount to a protected class of citizens have gotten unexpected help this year from the state and federal courts. First came Los Angeles Superior Court Judge Rolf
Read More
Controller: No CalPERS controls on pension spiking
With the state facing $500 billion in unfunded pension liabilities, you might think the state’s pension funds would do everything they could to make sure the liabilities would not go even higher. To quote the late John Belushi, But nooooooooooooooooooooooooooooooooo.
Read More
Brown hits CalPERS on pension spiking
A bad month for CalPERS has gotten worse. On the heels of unfavorable news surrounding its investment strategy and leadership, the California Public Employee Retirement System provoked the wrath of Gov. Jerry Brown, who heaped scorn on its latest “pension spiking” plan. “Today
Read More
Kiplinger: CA taxes highest — and state hostile to retirees, too
Over the years, when I’ve reported that the nation’s CEOs continue to rank California as the most anti-business state in the country, I’ve gotten some blowback in emails and comments that question whether the ranking was manipulated. This is goofy
Read More
Is Gov. Brown disinterested in pension reform?
Later today, the governing board of the California Public Employees’ Retirement System is expected to pass rules giving state employees 99 ways to spike their “pensionable pay.” Gov. Jerry Brown only objected to one of the 99 bonuses. This is
Read More