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CA pension plans prompting tough tradeoffs
Despite a sounder economic footing, California’s pensions problem has deepened. That was the conclusion drawn by analysts who warned that new accounting rules would shine a startling spotlight on practices long kept in the shadows. “The Governmental Accounting Standards Board is implementing new
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CA Senate jumps into UC tuition fracas
Maybe kids and their parents won’t have to pay higher University of California tuition. Last month, Gov. Jerry Brown tried to reverse UC President Janet Napolitano’s 25 percent tuition hike over five years. But she outmaneuvered him at a Board of Regents
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CalPERS numbers attract fresh scrutiny
The California Public Employees’ Retirement System looks to see 2015 as another controversial year, especially around four budding controversies. First, attention has focused in recent weeks around the way CalPERS pays its board members and executives. An investigation by the Sacramento Bee
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Vallejo’s struggles capture CA city perils
After three years spent in bankruptcy, 2008-11, running the city of Vallejo is still a struggle. Facing a weakened police force and a failed experiment in citizen-driven budgeting, Vallejo’s structural challenges have persisted. In the wake of the pension crisis that helped
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L.A. city spat pits Wall Street against unions
The latest twist in Los Angeles city politics has shed light on an important new trend in fiscal politics. With new urgency, a coalition of public workers unions has demanded Mayor Eric Garcetti and other city leaders scuttle longstanding financial
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Pension spikes crumbling CA roads
From roads to bridges and well beyond, California’s neglected infrastructure won’t receive relief this election cycle. For years, the state has lavished money on other projects — especially public pensions. Despite a flurry of bad press surrounding the crushing burdens those pensions
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Voters face pension-reform decisions
In a series of contests playing out at the state and local levels, Golden State voters will cast votes this November that could reshape the pension landscape for years to come. Races have attracted attention for offices that exercise direct influence over the institutions
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Judge: CalPERS not protected in Stockton bankruptcy
After a brief reprieve from a bad summer, the California Public Employees Retirement System has been handed another massive setback. In a provisional but uncompromising ruling, U.S. Bankruptcy Judge Christopher Klein held bankrutpcy law does not permit CalPERS to protect its workers’
Read More‘No Federal Bailout’ bill killed in Assembly Banking Committee
May 8, 2013 By Katy Grimes SACRAMENTO — As the self-help movements say, taking responsibility is crucial to recovery. That’s why Assemblywoman Shannon Grove, R-Bakersfield, wants California to take responsibility for its pension addiction. Her bill, Assembly Joint Resolution 10, called on
Read MoreSEC charges Chicago-based investment adviser with defrauding CalPERS
April 18, 2013 By Josephine Djuhana The SEC released a statement today, charging Chicago-based investment advisory firm Simran Capital Management with lying to CalPERS regarding the amount of money managed by the firm. The president and sole owner of the
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