Tag "CalSTRS"

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Credit rating agencies concerned about California pensions costs

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

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Gov. Newsom’s budget shows pension fixes failed

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

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Is state Legislature hampering CalPERS, CalSTRS?

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

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

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 –

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California pension funds pushed by politicians to divest from gun industry

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

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School districts struggling despite huge funding increase

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

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Rising pension costs threaten California school funding

  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

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

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

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Union appeal focuses attention on pension precedent

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

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CalWatchdog Morning Read – July 29

CalSTRS v. Volkswagen Congressional candidate issuing terrorist-hunting permits What you need to know about the vaccine law Earned Income Tax Credit misses estimates Many voters skipping Senate race  Good morning! The legislative summer recess is coming to an end, so

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