Archive for April 27th, 2013

The PE: RIVERSIDE COUNTY: Public employee pensions well-funded, report says


April 26, 2013; 05:35 PM

Riverside County’s public employee pension costs are expected to rise more than $20 million next fiscal year, but the long-term pension fund outlook is positive, a new report states.

To read story by Jeff Horseman in The Press Enterprise, click here.


Greg Cappis, Staff Writer
Posted: 04/26/2013 09:05:14 PM PDT
Updated: 04/26/2013 09:54:17 PM PDT

Last year, voters in the 31st Congressional District chose between two Republicans in the general election.

Next year, their choice could be between two Democrats.

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California Assembly Seal

Senate next takes up the proposal, which would apply to legal residents. One of the bill’s authors says it would expand jury pool and help immigrants integrate.

By Chris Megerian, Los Angeles Times
April 26, 2013, 10:30 p.m.

SACRAMENTO — California would allow noncitizens to serve on juries under a proposal being considered by state lawmakers, potentially expanding a fundamental obligation of American life to millions more people.

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By Dale Kasler
Published: Friday, Apr. 26, 2013 – 6:21 pm
Last Modified: Friday, Apr. 26, 2013 – 11:45 pm

CalPERS is back – sort of.

Slowly, sometimes painfully, America’s largest public pension fund has erased the nearly $97 billion worth of investment losses it suffered in the market crash. Its portfolio swelled to a record $261.7 billion Friday, surpassing the pre-crash high in 2007.

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WashPost: Big banks cutting billions from reserve funds

Bank of America

Justin Sullivan/GETTY IMAGES – Cutting reserves is not nefarious, bankers say. If a bank has fewer bad loans, it makes sense to have less money set aside to cover them.

By Danielle Douglas
Published: April 26, 2013

Megabanks made a bundle this earnings season, with the top five firms alone pulling in $19.5 billion in profits. But a closer look at the books shows they have been moving money out of rainy-day funds to boost earnings.

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WashPost: The Democrats have lost on sequestration


Posted by Ezra Klein
April 26, 2013 at 2:12 pm

The Democrats have lost on sequestration.

That’s the simple reality of Friday’s vote to ease the pain for the Federal Aviation Administration. By assenting to it, Democrats have agreed to sequestration for the foreseeable future.

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Health Insurance Rates

Cantor’s approach blew up this week. Conservatives who want repeal might have the upper hand — over Democrats, too.

By Michael Catalini
Updated: April 26, 2013 | 1:30 p.m.
April 26, 2013 | 11:27 a.m.

The influential conservative website Red State does not score key-vote legislation.

But Majority Leader Eric Cantor’s Helping Sick Americans Now Act nearly changed that. The bill would have insured thousands of Americans with pre-existing conditions who would be dropped because of a provision in the Affordable Care Act, Cantor argued. The bill was supposed to be a savvy way to make the GOP seem softer and score political points by tweaking Obamacare.

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