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California sales tax dips, but tax burden rises

“Four years ago, voters approved Proposition 30, which raised the income tax significantly on the wealthiest Californians and raised the sales tax a tiny bit on everyone,” Capital Public Radio recently recalled. “That quarter-of-a-cent increase equated to paying an additional $0.01 on

CA Supreme Court to review pension case with nationwide implications

James Poulos December 1, 2016

Reigniting a perpetually smoldering debate with nationwide implications, the California State Supreme Court agreed to consider whether rules cracking down on pension boosting strategies could be applied to unionized government workers. “A state appeals court in San Francisco ruled in a

CalPERS staff nudges board to consider lower return rates

Steven Greenhut November 22, 2016

SACRAMENTO – There’s bad news coming down the pike for California municipalities following several days of board meetings for the nation’s largest state-based pension fund. Although no action has been taken, it’s clear the California Public Employees’ Retirement System, or

CalWatchdog Morning Read – September 20

CalWatchdog Staff September 20, 2016

Union battles Caltrans over costly move Gov. Brown mulls bills overseeing psych meds for foster kids Energy company won big giveaway from Legislature More on CalPERS and the state’s rising pension debt Good morning! But alas, it’s only Tuesday. CalPERS and the

Court ruling opens avenue for pension reform

Steven Greenhut August 30, 2016

SACRAMENTO – An Aug. 17 California appeals court ruling rejected a public employee union’s claim that its members had a right to “pension spiking,” which the court described as “various stratagems and ploys to inflate their income and retirement benefits.”

CA sues Morgan Stanley over public pension funds

James Poulos April 12, 2016

The State of California has sued investment bank Morgan Stanley, filing a complaint in San Francisco Superior Court, seeking redress for what officials said was massive harm to its public-sector workers. “Public employees in California, including peace officers, firefighters,

Education debt debate heats up

James Poulos January 4, 2016

With the start of a new year, a fresh array of political, economic and legal developments promise to sharpen California’s ongoing debate over the costs and consequences of its current education system. The California State Teachers’ Retirement System, one of

Finance Department urges CalPERS to reduce risk

Dave Roberts October 30, 2015

The California Public Employees’ Retirement System is considering reducing its investment risk with a plan that would be so ineffectual it could lead to a “rate shock” when the pension bills come due, according to the California Department of Finance.

San Jose scraps pension reform measure

James Poulos August 20, 2015

In a remarkable move, the city of San Jose walked back its high-profile Measure B scheme to reform its costly public pensions commitments. Striking a deal Losing police to other jurisdictions, Mayor Sam Liccardo faced “enormous pressure to reach a settlement,”

CA pension reformers push ballot measure

James Poulos June 25, 2015

The struggle over reforming California’s public pension system has been taken up a new notch. Given the poor track record of past efforts to reform pensions on the statewide level, a bipartisan alliance of former municipal leaders, including ex-San Jose Mayor Chuck Reed and