Category Archives: News

By Patrick McGreevy | Los Angeles Times — Gov. Jerry Brown came to office promising to reduce the state’s burgeoning pension costs … Saying the system is not financially sustainable, the governor has laid out a 12-point plan to change … Continue reading →

By Dale Kasler | The Sacramento Bee — CalSTRS said today it earned 2.3 percent on its investments in 2011, “a year of extreme market volatility.”  The announcement came a day after CalPERS reported its 2011 results, a gain of … Continue reading →

By Marc Lifsher | Los Angeles Times — The nation’s largest public pension fund, the California Public Employees’ Retirement System, posted a 1.1% return on its investment portfolio in 2011, Chief Investment Officer Joseph Dear told his board. The 2011 … Continue reading →

Shifting government workers to 401(k)-style plans would offer greater transparency and keep benefits in line with the private economy. By Andrew G. Biggs and Jason Richwine | The Wall Street Journal — According to government union leaders, their employee retirement … Continue reading →

By Jon Ortiz | Sacramento Bee — Californians, both those in government and those outside of it, support changing public employee pensions, according to a new Public Policy Institute of California survey. A little more than 8 in 10 of … Continue reading →

The Stanford Institute for Economic Policy Research (SIEPR) this week will release a series of reports documenting the Golden State’s worsening public pension problems.  The reports are authored by Stanford Professor Joe Nation with the assistance of California Common Sense … Continue reading →

By Catherine Saillant | Los Angeles Times — It’s business as usual at Santa Ana City Hall as residents trickle up to the counter to pay business fees, pick up a dog license or, in a newer wing next door, … Continue reading →

By Jon Ortiz | Sacramento Bee — A glitch with CalPERS’ new half-billion-dollar computer system has delayed death benefit checks to widowed spouses and incorrectly triggered letters notifying some members that their health insurance has been canceled.  Continue reading . … Continue reading →

By Jim Christie | Reuters — There’s no avoiding a ballot showdown over paring public employee pensions in California’s third-largest city, its mayor said on Wednesday. San Jose Mayor Chuck Reed told Reuters by telephone he has enough backing from … Continue reading →

By John Woolfolk | Mercury News — With life hanging in the balance, San Jose police and firefighters will take minutes longer to respond to emergencies. City libraries and community centers, some newly built, will sit locked and empty. There … Continue reading →

By Crag Gustafson | San Diego Union-Tribune – An ex-San Diego police officer convicted of assaulting women isn’t eligible for a city pension contrary to a report Tuesday by The San Diego Union-Tribune, according to a lawyer with the San … Continue reading →

By Nels Johnson | Marin Independent Journal – The soaring cost of Marin County’s pension program is driven in large part by plump benefits for a few hundred retirees at the top, a new study indicates. Some 30 percent of … Continue reading →

By Nels Johnson | Marin Independent Journal – Soaring pension costs and flat property tax growth have wedged Marin County in a budget chasm that could reach $15 million in two years, requiring more cutbacks, collaboration, advance planning and creative … Continue reading →

David Crane, the jobs and economic growth adviser for former GOP Gov. Arnold Schwarzenegger and now president of Govern for California, says that pension changes need to be part of solving the multibillion-dollar state budget deficit expected next year.  Continue … Continue reading →

By John Woolfolk and Steven Harmon | San Jose Mercury News — From San Francisco to Modesto, California voters Tuesday sent a strong message that they want to cut generous public employee pensions, whose soaring costs are devouring funds for … Continue reading →