Category Archives: News

Public employee unions push back with lawsuits over pension reforms

California unions, accustomed to getting their way in the Capitol, lost some ground last year when Gov. Jerry Brown pushed through the Legislature a series of public-pension cuts that affect their members. Now several labor groups have gone to court … Continue reading

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CalPERS Nets 0.14% Return on Investments for FYE 2011-2012

By Morgan Cook | Orange County Register – The giant investment fund that feeds the state’s public employee retirement system contributed far less than expected to the pension kitty last year, fueling a long-standing debate over how much the system … Continue reading

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California Pension Reform suspends campaign

The following is a statement from Dan Pellissier, president of California Pension Reform: “California Pension Reform is suspending its effort to qualify an initiative for the 2012 ballot after determining that the Attorney General’s false and misleading title and summary … Continue reading

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Clamor grows to rein in California’s public pension benefits

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

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CalSTRS reports 2.3% earnings in 2011

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

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CalPERS earns 1.1% on investments in 2011

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

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Why public pensions are so rich

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

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New PPIC poll: 83% of Californians say the amount government is spending on public employee pensions is a problem

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

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Stanford group to release new estimates today of unfunded liabilities for CalPERS, CalSTRS and the University of California

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

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Cash-strapped cities want workers to contribute more to their pensions

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

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‘Glitch’ in CalPERS’ new $507,000,000 computer system creates bureaucratic mess for widowed spouses

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

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Showdowns loom in California over public pensions

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

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San Jose leaders paint grim budget picture without pension reform

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

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UPDATE: Convicted San Diego police officer WILL NOT get $40,000 annual pension

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

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Soaring Marin County pension bill fueled largely by top tier of retirees, study finds

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

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Soaring pension costs force service cutbacks in Marin County

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

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Former Schwarzenegger adviser renews call for pension reform

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

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Legislative Analyst says state’s retirement costs to increase by $200 million over 5 years

By Jon Ortiz | Sacramento Bee — State pensions will cost government employers about $200 million more in fiscal 2016-17 than expected next year, according to a new report from the Legislative Analyst’s Office. About half of those rising costs … Continue reading

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Cut public employee pensions, California voters say

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

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