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Tag "Pension Reform"

Video: Can CA tax its way to prosperity?

California taxes are going up, but according to Americans for Tax Reform’s Grover Norquist, the new revenue isn’t going solve any problems. He explains why real change in the state need to come in the form of pension reform.

Why CalSTRS fix is impossible: It would force cut in teacher take-home pay

Chris Reed April 11, 2014

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

No, San Jose not struggling to retain city workers — just police

Chris Reed April 8, 2014

Coverage of L.A. ‘pothole tax’ never mentions why budget is bare

Chris Reed April 4, 2014

The city of Los Angeles’ finances are in terrible shape. The city’s economy is sluggish and revenue is stagnant. Meanwhile, retirement benefits for retired city workers — especially police and firefighters — eat up ever more of the budget. “As

San Jose Mayor Reed folds on pension initiative

James Poulos March 19, 2014

In a disappointing indicator of the challenges facing public pension reform, outgoing San Jose Mayor Chuck Reed has shelved his statewide ballot initiative designed to address the problem. The mayor blames a time crunch and unappealing language used in Attorney

Pension reform waits till 2016

John Seiler March 16, 2014

The pension reform of San Jose mayor Chuck Reed, a Democrat, is going to have to wait till 2016: The proposed initiative would have allowed local governments to reduce benefits for current employees, which have strained the finances of California

Ruling on Chuck Reed’s pension initiative not end of the world

Chris Reed March 14, 2014

Editor’s update, 2 p.m.: San Jose Mayor Chuck Reed is reportedly suspending the initiative push until 2016 because the court delays related to the ballot language challenge will make it difficult for signature gatherers to meet deadlines — not because

Judge confirms the ‘California rule’: Pensions can only go up

Chris Reed February 25, 2014

A state judge on Monday did a split-the-baby routine with San Jose’s voter-approved pension-reform law: “SAN JOSE — In a landmark ruling that could help shape city budgets around the state, a judge invalidated key parts of San Jose’s voter-approved

Hoover conference reaches consensus on some areas of pension reform

John Seiler February 20, 2014

Today the Hoover Institution released a crucial document in California’s debate over pensions, “California Public Pension Solutions: Post-Conference Report.” The conference itself took place last October. But its debates and findings now have been compiled for everyone to read and

Latest scandal: Why you would be nuts to believe CalPERS

Chris Reed February 4, 2014

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