Tag "CalSTRS"
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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
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Moody’s raises questions about teacher pension funding fix
Soon after the CalSTRS funding fix crafted by the Legislature and Gov. Jerry Brown took effect on July 1, Moody’s Investors Service raised CalSTRS’ bond issuer rating. But six weeks later, Moody’s has put out another release that examines how much
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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
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How rich: CTA parent group struggles with pension costs
The following news nugget almost has an Onion feel to it, it’s such a perfect commentary on the aggressively dishonest Maviglian/union narrative about pension affordability. But it’s legit. The California Teachers Association has spent years depicting complaints about the costs
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CalSTRS bailout will be CA version of budget sequester
On April 10, 2012, I wrote an op-ed for the L.A. Daily News with an unusual take on what ultimately would kill the bullet train. My theory was that the teachers unions would fight to keep a new mouth from
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Typical Sacramento: Weak CalSTRS fix made even weaker
So Gov. Jerry Brown is finally forced by events to come up with a CalSTRS pension rescue plan. And as Dan Borenstein points out, it’s so cautious that it doesn’t prevent CalSTRS’ underfunding from getting worse for some time to
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Pension costs burden CA budget
Gov. Jerry Brown still hasn’t gotten his state’s budget problems beat. A high-profile new report showed California still faces massive liabilities extending far into the future. The study, released by the nonpartisan Legislative Analyst’s Office, tallied over $340 billion in debts, deferred payment and other
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CalSTRS unfunded liability hits new high
The California State Teachers’ Retirement System just announced it faces $73.7 billion in long-term liabilities. Left untouched, that would spell bankruptcy in 2043. For critics of California’s public-employee pensions programs, the grim numbers heighten the urgency for reform. If CalSTRS wants
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Why CalSTRS fix is impossible: It would force cut in teacher take-home pay
The California State Teachers’ Retirement System is terribly underfunded. The last official report put its shortfall at $74 billion. State officials say it needs an infusion of $4 billion more money a year for decades to come. This week, as
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Another reminder of Jerry Brown’s, Mac Taylor’s irresponsibility
This Los Angeles Times story should infuriate anyone familiar with Gov. Jerry Brown’s claims that the state is on firm ground financially — and absolutely appall anyone who knows that alleged watchdog Mac Taylor of the Legislative Anayst’s Office gave
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