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CalPERS, CalSTRS try to apply vague Newsom order to investment decisions

California agencies are trying to figure out the implications of a vague executive order issued by Gov. Gavin Newsom in September that orders many policy decisions to be made with the need to “mitigate climate change” kept in mind. A

Credit rating agencies concerned about California pensions costs

Chris Reed April 1, 2019

A new Public Policy Institute of California poll shows the number of state residents worried about the cost of government pensions is at a 14-year low. In recent remarks to the Commonwealth Club in San Francisco, new state Superintendent of

Gov. Newsom’s budget shows pension fixes failed

Chris Reed January 22, 2019

Gov. Gavin Newsom’s proposal to use some of the state’s budget surplus to pay down unfunded liabilities in the state’s two giant government employee pension funds drew praise from an unexpected source – the Howard Jarvis Taxpayers Association, which otherwise had

Is state Legislature hampering CalPERS, CalSTRS?

Chris Reed July 30, 2018

The California Public Employees Retirement System and the California State Teachers Retirement System recently announced that they had exceeded their investment goals by at least 1 percentage point in fiscal 2017-18, with CalPERS citing annual gains of 8.6 percent and

CalPERS, CalSTRS likely to face new pressure to divest from fossil-fuel companies

Chris Reed January 1, 2018

New York Gov. Andrew Cuomo’s call for his state’s biggest government pension fund to stop new investments in fossil-fuel companies and phase out existing investments is likely to lead to renewed calls for the Golden State’s two massive pension funds –

California pension funds pushed by politicians to divest from gun industry

Steven Greenhut November 8, 2017

SACRAMENTO – California’s two major pension funds, the California Public Employees’ Retirement System (CalPERS) and the California State Teachers’ Retirement System (CalSTRS), control more than $500 billion in total assets, making them two of Wall Street’s most influential investors. They

School districts struggling despite huge funding increase

Chris Reed July 21, 2017

California’s funding of education has gone from $50.4 billion in the fiscal year that ended in 2012 to $74.5 billion for the current fiscal year – a nearly 50 percent increase that’s far above the less than 9 percent increase in

Rising pension costs threaten California school funding

James Poulos February 3, 2017

In a shock critics had warned against, Golden State schools discovered that their nation’s largest pension system, CalPERS, was on track to force substantial budgetary cutbacks on core education spending. “Public schools around California are bracing for a crisis driven by

Bad news for U.S. is good news for CalPERS, CalSTRS

Chris Reed December 27, 2016

The California Public Employees’ Retirement System has not had a good 2016. Its investment returns were microscopic, it faced sharp criticism from a prominent financial website for alleged unethical behavior and Gov. Jerry Brown had to intervene to prevent the nation’s largest

Union appeal focuses attention on pension precedent

Steven Greenhut October 11, 2016

SACRAMENTO – A decision by four Marin County public-employee associations to appeal a pension-related case to the California Supreme Court could ultimately determine whether localities have the tools needed to rein in escalating pension debt. At issue is how far