Tag "CalPERS"
Back to homepage
Gov. Christie: Not all pensions will be paid
Chris Cristie is the governor of New Jersey. But he has given a wake-up call to all states with public pension problems, including California. The latest: BELMAR, N.J. — Pension reform is going to involve breaking some promises, including reducing benefits
Read More
Backdrop to CalPERS’ many debacles: Agency thinks it’s great
The giant California Public Employees’ Retirement System, as one might suspect from its massive and self-important Sacramento headquarters, thinks it is the bomb — a flawless organization that should inspire awe in onlookers. Yes, of course, the phenomenon of government
Read More
Feeble CalPERS reform shows Brown who runs Sacramento
Taken at face value, the pension reforms touted by Gov. Jerry Brown in 2011 and 2012 were genuinely far-reaching for a California Democrat, even one as allegedly independent as Brown. But from the 2014 perspective, two of the key provisions
Read More
Longevity breakthroughs make gov pensions even more of a gold mine
On Sunday the Drudge Report sent Twitter abuzz with the report of a hugely significant breakthrough on aging and longevity: “It may seem the stuff of gothic horror novels, but transfusions of young blood could reverse the ageing process and
Read More
CalPERS just called me
At 11:27 am, according to my cell, I got a call from CalPERS, the California Public Employees’ Retirement System. At first I thought it was about some news story I had done. I’ve talked to them before. Then the woman
Read More
Death, taxes and state incompetence with computer projects
There are fewer sure things in life than the likelihood the California state government will screw up a computer project. We may be home to Silicon Valley and the greatest concentration of information-technology skills in the world, but once a
Read More
Latest scandal: Why you would be nuts to believe CalPERS
The Sacramento Bee has the basic details on a new CalPERS contretemps: “A former CalPERS employee who alleged she was fired for challenging a cover up of insider trades by fund staff settled her wrongful termination case this morning. “Jeannine
Read MoreLife expectancy gains: new front in CA pension funding woes
Daniel Borenstein of the Bay Area Newspaper Group had a sharp column Sunday pointing out that delays in acknowledging gains in life expectancy added to the long-term funding problems faced by CalPERS. “The mortality issue exemplifies how CalPERS has set
Read More
CalPERS is worried
Last week, U.S. Bankruptcy Judge Steven Rhodes ruled that Detroit city workers’ pensions could be part of the Chapter 9 proceedings. So the pensions could be cut substantially. That obviously affects the federal bankruptcy trial for San Bernardino and, potentially, Desert
Read More