Archive for the ‘ Counties ’ Category

calpers

John Myers
Sept. 20, 2016 – 2:47 p.m.

The retiring forecaster for California’s largest public employee pension fund offered some final advice on Tuesday: State and local governments should be required to pay more into the system as soon as next year.

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Dan Walters

By Dan Walters
dwalters@sacbee.com
September 11, 2016 – 4:00 AM

The “unfunded liabilities” of state and local pension funds are California’s biggest unresolved political issue – at least in financial terms.

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california_state_senate

John Myers
Aug. 29, 2016 – 5:47 p.m.

State lawmakers rejected a plan on Monday to place limits on individual campaign donations for city and county offices, races where in some California communities there are no restrictions on the size of a legal donation.

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Money

Patrick McGreevy
Aug. 22, 2016 – 4:43 p.m.

In the continuing fallout from the city of Bell’s financial scandal, Gov. Jerry Brown on Monday signed a bill requiring city councils and county boards of supervisors to publicly announce pay and benefit increases for government executives before they are approved by a vote.

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Calpensions: Court pension decision weakens ‘California rule’

Pensions

Ed Mendel
August 22, 2016

The one thing some pension reformers say is needed to cut the cost of unaffordable public pensions: give current workers a less costly retirement benefit for work done in the future, while protecting pension amounts already earned.

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Calpensions: Dissident actuaries want to show big pension debt

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Ed Mendel
August 15, 2016

Two actuarial associations did not publish a controversial paper by their joint task force, reflecting a split in the profession over whether public pension debt should be measured with risk-free bonds or the earnings forecast for stock-laden investment funds.

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Daily Bulletin: Few Inland public worker pensions among highest

Pensions

By Alicia Robinson, The Press-Enterprise
Posted: 08/08/16 – 7:54 PM PDT |

High-earning state and local government retirees are scattered around the state, with no one city or agency dominating the list of the biggest pension payouts in 2015, data from an open records advocacy group show.

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Calpensions: CalPERS funding gap may grow under new trend

calpers

By Ed Mendel
Monday, August 1, 2016

Twice in recent decades CalPERS fell below 100 percent of the funding needed for promised pensions, and twice CalPERS climbed back. But since a $100 billion investment loss in 2008, the CalPERS funding level has not recovered.

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Dan Walters

By Dan Walters
dwalters@sacbee.com
July 23, 2016 – 2:00 PM

  • Pension problems stem from 1999 benefit boost
  • Unemployment insurance ills rooted in 2003 benefit boost
  • Stockton violates austerity budget to reopen library

One day last week, Daniel Borenstein, a columnist for newspapers in the Bay Area News Group, published a critical analysis of the California Public Employees’ Retirement System’s long-term finances.

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Dan Walters

By Dan Walters
dwalters@sacbee.com
July 12, 2016 – 3:04 PM

  • California Public Employees’ Retirement System lost money
  • Fund is now well short of what’s required to cover pensions
  • CalPERS demands more from governments to cover outlays

The California Public Employees’ Retirement System – the nation’s largest pension trust fund – took a beating during the Great Recession, dropping nearly $100 billion in value.

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calpers

By Teri Sforza / Staff Writer
July 12, 2016 – Updated 7:37 a.m.

Public workers are pumping more money into retirement funds. Public agencies are pumping more money into retirement funds.

Yet the market seems distinctly unimpressed.

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The Sun: Public employees’ pay packages questioned

Money

Joe Nelson, The Sun
Neil Nisperos, Inland Valley Daily Bulletin
Stephen Wall, The Press-Enterprise
Posted: 06/21/16 – 10:09 PM PDT |

Inland public employees aren’t just earning a paycheck, but collecting hefty compensation packages that often dwarf their base salaries, an open-records advocacy group announced Tuesday.

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InlandPolitics: Inland Empire governments renewed financial worries

Budget Woes

Sunday, June 19, 2016 – 12:00 a.m.

The economy is supposed to be doing just fine. Property taxes have all but fully recovered along with real estate prices.

But Inland Empire governments are expressing caution when discussing their finances.

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Municipal Bonds

Published: April 13, 2016 – 8:09 a.m.

Puerto Rico, Atlantic City and Chicago school district bondholders have reason to fear a fight in court if the ailing governments collapse financially: recent cases show that when municipalities go broke, investors lose when pitted against municipal retirees.

To read article in The Press-Enterprise, click here.

The Sacramento Bee: Dan Walters: California pension debts revealed

Pensions

By Dan Walters
dwalters@sacbee.com
March 15, 2016 – 4:15 PM

  • New accounting standards require pension debt to be listed
  • Multibillion-dollar unfunded liabilities are emerging
  • However, Fresno has state’s only pension fund surplus

Thanks to new accounting standards, California’s state and local governments are being forced to acknowledge tens of billions of dollars in previously obscure debt for unfunded pension liabilities.

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Secretary of State

Capitol Alert
By Dan Walters
dwalters@sacbee.com
December 15, 2015

  • Controller’s searchable website covers $36 billion in wages
  • City wage, benefit costs decline while county costs increase

State Controller Betty Yee has released a new searchable database of local government salaries, covering 602,377 positions with more than $36 billion in wages.

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The Sacramento Bee: Dan Walters: Our cities have become vulnerable

Dan Walters

By Dan Walters
dwalters@sacbee.com
November 29, 2015

  • Bankruptcies and scandals showed danger
  • Pension burdens one major factor
  • Auditor to monitor local governments

The bankruptcies of three cities and high-profile financial scandals in a couple of others demonstrated the operational vulnerabilities of California’s municipalities.

Read the rest of this entry »

calpers

For years, the California Public Employees’ Retirement System has estimated its investments will earn an average of 7.5% or more a year. Now it plans to slowly reduce that rate to 6.5%.

Melody Petersen
November 18, 2015

The board of California’s largest public pension fund approved a plan Wednesday to lower its estimate of future investment returns — a move that will require taxpayers to pay billions of dollars more than expected over the next decades.

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Los Angeles Times: Lawmakers reject measure expanding county boards of supervisors

Hilda Solis

L.A. County Supervisor Hilda L. Solis speaks during a board hearing in June. (Marcus Yam / Los Angeles Times)

By Patrick McGreevy
September 10, 2015

The Senate on Thursday failed to muster the two-thirds vote to put a constitutional amendment on the ballot requiring large California counties, including Los Angeles, to expand their five-member boards of supervisors to at least seven members.

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Lou Desmond

Wednesday, August 5, 2015 – 05:00 p.m.

The Lou Desmond and Company Show is broadcasting from the Toyota of San Bernardino Recording Studios!

Tonight on the show, Cliff Cummings, proprietor of Toyota of San Bernardino, and Lou talk about a plan to put seven supervisors in counties with more than 2 million people. Good idea, bad idea?

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METRO

By Daniel Borenstein, Staff Columnist
Posted: 07/24/2015 – 04:00:00 PM PDT

Although public employee pension plans across California are badly underfunded, union leaders have expressed little concern about the security of workers’ retirement pay.

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San Bernardino County Board of Supervisors

The San Bernardino County Board of Supervisors would grow to seven members under Senate Constitutional Amendment 8.

By Joe Nelson, The Sun
Posted: 07/20/15 – 1:10 PM PDT |

Proposed legislation that would require San Bernardino County and other California counties with populations of 2 million or more to increase their number of elected supervisors from five to seven is gaining momentum in the state Legislature.

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The Sacramento Bee: Opinion: California’s leadership structure is weak

Dan Walters

By Dan Walters
dwalters@sacbee.com
July 4, 2015

  • When civic leaders are effective, government functions well
  • Los Angeles is trying to re-establish civic cadre
  • San Francisco has one; other areas trying

Civic leadership is one of those intangibles whose existence is difficult to define, much less prove.

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Calpensions: New rules try to spotlight hidden retirement debt

Pension Reform

By Ed Mendel
June 29, 2015

An accounting board best known for requiring the calculation and reporting of the debt owed for retiree health care promised government workers, which often turned out to be shockingly large, is having another moment.

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Calpensions: CalPERS looks at long-term rate hike to cut risk

calpers

By Ed Mendel
June 1, 2015

CalPERS is considering small increases in employer and employee rates over decades to reduce the risk of big investment losses, a policy that also would lower an earnings forecast critics say is too optimistic.

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U-T San Diego: Report: Officials masked big pension hike

Pensions

Pension debts are sky-high, but little interest at the Capitol

By Steven Greenhut
May 27, 2015 – 3:10 p.m.

SACRAMENTO — “There are two ways to be fooled. One is to believe what isn’t true; the other is to refuse to believe what is true,” wrote the 19th century Danish philosopher Soren Kierkegaard. It must be an enduring trait of mankind and especially of politicians, who often fool themselves (and the public) about major problems.

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The Sacramento Bee: CalPERS contributions to rise more than 9 percent

calpers

Capitol Alert
The go-to source for news on California policy and politics
By Dale Kasler
dkasler@sacbee.com
04/14/2015 5:54 PM

CalPERS is about to raise pension contribution rates again, this time by more than 9 percent, a move that will cost state government and local school districts nearly $600 million.

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METRO

By Daniel Borenstein
Posted: 04/02/2015 – 08:27:25 AM PDT
Updated: 04/02/2015 – 09:38:48 AM PDT

Unless it alters its current funding structure, CalPERS will be even more vulnerable to market losses in the next economic downturn than it was during its devastating plunge in the Great Recession.

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The Sacramento Bee: California sales tax rates going higher

California Taxes

Capitol Alert
The go-to source for news on California policy and politics
By Dan Walters
dwalters@sacbee.com
03/31/2015 10:06 PM

There’s a wide range of sales tax rates in California, some rates are increasing this week and if pending legislation is successful, the range will get even wider.

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Calpensions: CalPERS urged to avoid Obamacare ‘Cadillac Tax’

Obamacare

By Ed Mendel
March 30, 2015

Employer and employee groups are urging CalPERS to “undertake all efforts” to avoid the “Cadillac Tax,” a 40 percent tax on high-cost health plans imposed in 2018 by President Obama’s health care law, a CalPERS staff report said this month.

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Calpers

The California Public Employees’ Retirement System’s headquarters is in Sacramento. (Carl Costas / For The Times)

By Melody Petersen
March 17, 2015

As millions of private employees lost their pension benefits in recent years, government workers rested easy, believing that their promised retirements couldn’t be touched.

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Calpensions: High court ruling weakens retiree health rights

Supreme Court of the United States

By Ed Mendel
March 16, 2015

A U.S. Supreme Court ruling in January weakens the “vested rights” protection of retiree health care based on a labor contract, potentially making it easier for government employers to cut a growing cost.

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Calpensions: Tackling the big debt that lawmakers let balloon

Pension Reform

By Ed Mendel
December 22, 2014

The debt or “unfunded liability” state Controller John Chiang reported last week for state worker retiree health care, $72 billion, is larger than the unfunded liability for state worker pensions reported by CalPERS in April, $50 billion.

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VVDailyPress: State Controller reports who’s topping the pay scale

Money

Adelanto city manager, Hesperia Council highest paid locally

SHEA JOHNSON
STAFF WRITER
Posted Dec. 20, 2014 @ 8:39 pm
Updated Dec 20, 2014 at 8:59 PM

In general, city managers top the pay scale among city employees, and a report released this week by outgoing state Controller John Chiang indicates that the top brass in and around the Victor Valley and Barstow regions are not an exception to this trend.

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Calpensions: CalPERS: extra contributions can yield big savings

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By Ed Mendel
December 15, 2014

CalPERS is encouraging government employers to make extra payments to reduce their pension debt or “unfunded liability” if budgets allow, saying millions can be saved in the long run.

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SacBee: Opinion: Pension cost avoidance creates gaps

Dan Walters

By Dan Walters
dwalters@sacbee.com
12/14/2014 12:01 AM

California’s perpetual political debate over public employee pensions usually focuses on the benefits themselves – whether they are fair compensation for those doing the public’s work or, conversely, too generous.

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CFIR: Few rules mean hefty payouts for some California public employees

California Money

By Joanna Lin / December 4, 2014

California taxpayers spend about $40 billion a year to pay their fire chiefs, mayors, tree trimmers and thousands of other city and county employees. Some – including harbor pilots in Los Angeles – make more than $300,000 a year. Others receive as little as $190, the payout for one planning commissioner in tiny Alpine County.

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Calpensions: CalPERS retirees outnumber active workers soon

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By Ed Mendel
Monday, November 24, 2014

In a few years CalPERS retirees are expected to outnumber active workers, a national trend among public pension funds that makes them more vulnerable to big employer rate increases.

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SacBee: Opinion: Big pension gap won’t vanish soon

Dan Walters

By Dan Walters
dwalters@sacbee.com
11/18/2014 10:15 PM

State Controller John Chiang performed an admirable public service by publishing a detailed report on the finances of California’s public employee pension systems.

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DailyBulletin: ACLU: Southern California cops are putting spy tools in place quietly

Garden Surveillance Camera Command Center

Gardena police assistant Christian Ovando and Gardena police Officer Ed Medrano work inside the Gardena Police Department surveillance camera system command center. (Stephen Carr — staff photographer)

By Jason Henry, San Gabriel Valley Tribune
Posted: 11/15/14, 10:39 PM PST | Updated: 24 secs ago

Law enforcement agencies throughout Southern California and the state now track everyday Americans with little public oversight using surveillance equipment straight out of a spy thriller, according to a report from the American Civil Liberties Union of California.

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LATimes: California pension funds are running dry

John Chiang

New data on California public pensions from a website created by state Controller John Chiang come at a time of growing anger from taxpayers over the skyrocketing cost of public workers’ retirements. (Cheryl A. Guerrero / Los Angeles Times)

By Marc Lifsher
November 13, 2014

A decade ago, many of California’s public pension plans had plenty of money to pay for workers’ retirements.

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SacBee: Opinion: Controller John Chiang drops bombshell on California public pensions

Dan Walters

By Dan Walters
dwalters@sacbee.com
11/01/2014 5:00 PM

State Controller John Chiang dropped a political bomb the other day, although he was so quiet about it, one could say it was a stealth bomb.

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SacBee: Judge approves Stockton’s plan to repay creditors, leaving pensions intact

Gavel

By Dale Kasler
dkasler@sacbee.com
10/30/2014 9:20 PM

Government pensions in California remain untouchable, at least for now, after a bankruptcy judge approved Stockton’s plan to repay its creditors Thursday without reducing the city’s pension obligations.

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LATimes: 99 ways to boost pensions in California — at public cost

Pensions

Governments sent CalPERS more than $8 billion last year, an amount that has quadrupled in the last 10 years. (Thomas Fuchs / For The Times)

By Melody Petersen and Marc Lifsher
October 23, 2014

Directing traffic is part of a police officer’s job, and in the city of Fountain Valley, keeping cars moving comes with a $145 monthly bonus — and a bigger pension.

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calpers

October 23, 2014

The board of the California Public Employees’ Retirement System voted to add to a recent pension reform law 99 bonuses that can boost workers’ current paychecks and also their future pensions. Here are some of these retirement-enhancing bonuses:

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OCRegister: Watchdog: Thousands join the ‘$100K club’ for pensions

calpers

By TERI SFORZA
STAFF COLUMNIST
tsforza@ocregister.com
Published: Oct. 19, 2014 Updated: Oct. 20, 2014 10:37 a.m.
image0-Watchdog: Thousands join the ‘$100K club’ for pensions

Back in 2005, some 1,841 retirees pulled down more than $100,000 a year in pension checks from the California Public Employees’ Retirement System.

By 2009, this so-called “$100K club” had more than tripled, to 6,133 members.

Read the rest of this entry »

SacBee: Dan Walters: Bankruptcy judge lights fuse with Stockton pension ruling

Dan Walters

By Dan Walters
dwalters@sacbee.com
Published: Thursday, Oct. 2, 2014 – 10:20 pm

It should have surprised no one that federal Bankruptcy Court Judge Christopher Klein declared that public employees’ pensions are not sacrosanct when their employers declare bankruptcy.

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Dan Walters

By Dan Walters
dwalters@sacbee.com
Published: Monday, Sep. 29, 2014 – 12:00 am

What’s in a word? A lot.

Criminologist Michael Maltz defines “recidivism” as “the reversion of an individual to criminal behavior after he or she has been convicted of a prior offense, sentenced and (presumably) corrected.”

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SacBee: Dan Walters: Politicians often ignore California’s aging infrastructure

Dan Walters

By Dan Walters
dwalters@sacbee.com
Published: Saturday, Aug. 9, 2014 – 11:15 pm
Last Modified: Saturday, Aug. 9, 2014 – 11:55 pm

The Sacramento Suburban Water District, which supplies water to some older neighborhoods outside the city, is engaged in a decades-long project to replace its aged, undersized water mains and install meters as required by a new state law.

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Calpensions: Detroit-style pension cuts: could it happen here?

question-mark

By Ed Mendel
July 28, 2014

Bankrupt Detroit announced last week that current workers and retirees voted overwhelmingly to cut many pensions by 4.5 percent and to trim or eliminate cost-of-living adjustments.

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Dan Walters

By Dan Walters
dwalters@sacbee.com
Published: Monday, Jul. 14, 2014 – 12:00 am

Ever since Stockton filed for bankruptcy two years ago, Judge Christopher Klein has strongly hinted that he’s willing – perhaps even eager – to declare that city employee pension obligations are debts that could be trimmed along with those of more conventional creditors.

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Lobbying

By Ben Baeder, Whittier Daily News
Posted: 07/06/14, 6:03 PM PDT | Updated: 31 mins ago

At an increasing pace, your local government is spending your tax money paying lobbyists to get some more of your own tax money sent back to your community.

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Calpensions: Can local voters phase out county pensions?

pensions

By Ed Mendel
Monday, June 30, 2014

An initiative that would phase out Ventura County employee pensions is headed for a court test, challenged by a union lawsuit contending the change requires state legislation.

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CapitolWeekly: Locals pay tab for open government

Capitol Weekly

By SAMANTHA GALLEGOS
Posted 06.08.2014

State lawmakers and voters agree on one thing: transparency in government.

Local government, that is. State government remains exempt.

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Calpensions: New step to expose hidden retiree health debt

Calculator

By Ed Mendel
Monday, June 2, 2014

A decade ago new accounting rules directed state and local governments to begin calculating and reporting debt owed for health care promised retirees, which for state workers turned out to be more than the debt owed for pensions.

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VVDailyPress: Local governments to net more than $1 billion in tax revenue

BOE

May 23, 2014 5:12 PM
STAFF REPORTS

SACRAMENTO — The California State Board of Equalization has announced that local governments will collect $1.075 billion in tax revenue in the upcoming fiscal year.

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SacBee: Dan Walters: Pensions back on the agenda in Stockton’s bankruptcy

Dan Walters

By Dan Walters
dwalters@sacbee.com
Published: Thursday, May. 15, 2014 – 6:16 pm

From the onset of Stockton’s journey through bankruptcy, Judge Christopher Klein has implied, both through comments and rulings, that he sees it as a potential test of whether public employee pensions are debts that could be reduced.

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Capitol Alert
The latest on California politics and government
May 13, 2014

California’s formula to distribute money to help pay for public safety realignment lacks incentives and transparency, according to a new report by the Legislature’s nonpartisan fiscal analyst.

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Calpensions: County pension funds can still tap excess earnings

Pension Reform

By Ed Mendel
Monday, May 12, 2014

An Assembly committee last week approved a bill aligning the state law covering 20 county retirement systems with federal tax law, disappointing some who want to bar the use of “excess” investment earnings for retiree health care and other purposes.

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SacBee: Realignment puts heavy pressure on jails, PPIC report says

Capitol Alert
The latest on California politics and government
May 7, 2014

The “realignment” that Gov. Jerry Brown championed to reduce overcrowding in state prisons has, in turn, created overcrowding in county jails that were already in some distress, according to a new study by the Public Policy Institute of California.

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By DON THOMPSON / ASSOCIATED PRESS
Published: April 19, 2014 Updated: 2:49 p.m.

SACRAMENTO – Gov. Jerry Brown has been quietly visiting California counties since the start of the year to see how they are faring under his 3-year-old realignment law that dramatically altered the state’s criminal justice system by increasing the burden on local governments.

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The Sun: San Jose mayor warns Claremont audience of pension ‘crisis’

Pension Reform

By Ryan Hagen, The Sun
Posted: 04/17/14, 10:54 PM PDT | Updated: 16 secs ago

CLAREMONT >> Skyrocketing pension costs threatened San Jose’s ability to pay for services and will have the same effect in cities and counties up and down the state if changes aren’t made, that city’s mayor told students and others at Claremont McKenna College on Thursday night.

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Calpensions: Judge finds no ‘vested right’ to spiked pensions

By Ed Mendel
Monday, March 10, 2014

A superior court judge last week said he plans to uphold a key part of a new state law that curbs ‘spiking’ in county retirement systems, notorious for giving retirees pensions that are much higher than the salaries they earned on the job.

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Calpensions: Three new rulings on retiree health care cuts

By Ed Mendel
Monday, March 3, 2014

A federal appeals court last week gave Sonoma County retirees another chance to show that an implied contract gave them vested rights to retiree health care, preventing the benefit from being cut to $500 a month.

Read the rest of this entry »

DailyBulletin: California’s pension increases were expected, not welcomed

calpers

By Ryan Hagen, San Bernardino Sun
Posted: 02/19/14, 7:25 PM PST |

Leaders of local governments said Wednesday they had been preparing for the increased pension payments they’ll have to pay because of revised assumptions the California Public Employees’ Retirement System board made Tuesday — but hadn’t grown any more comfortable with the sacrifices it will cause.

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Calpensions: CalPERS rate hike: governor wins, cities lose

calpers

By Ed Mendel
Wednesday, February 19, 2014

A divided CalPERS board yesterday approved a faster rate hike for the state urged by Gov. Brown, but opposed by unions. A proposal to give struggling cities the option of more time to phase in the rate hike, seven years instead of five, was rejected.

Read the rest of this entry »

SacBee: CalPERS poised to raise rates, but not on Brown’s timetable

calpers

By Dale Kasler
dkasler@sacbee.com
Published: Wednesday, Feb. 12, 2014 – 10:28 pm

CalPERS and Gov. Jerry Brown agree the pension fund needs to significantly raise its contribution rates to keep up with ever-increasing life expectancies.

Read the rest of this entry »

METRO

Daniel Borenstein

By Daniel Borenstein, Staff Columnist
Posted: 02/07/2014 12:00:00 PM PST
Updated: 02/09/2014 08:10:25 AM PST

Kudos to Gov. Jerry Brown for demanding last week that CalPERS stop kicking pension debt further down the road. Too bad he hasn’t applied the same standard to the CalSTRS shortfall.

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Calpensions: Faster rate hikes sought for CalPERS and CalSTRS

calpers

calstrs

By Ed Mendel
Thursday, February 6, 2014

Gov. Brown yesterday urged CalPERS to speed up a $1.2 billion rate increase needed because workers are living longer. Assembly Speaker John Perez said last week he wants to speed up a $4.5 billion CalSTRS rate hike plan, acting this year not next year as the governor suggested.

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SacBee: Government reform group launches public pension database

The State Worker

The State Worker with Jon Ortiz
Chronicling civil-service life for California state workers
By Jon Ortiz
jortiz@sacbee.com
Published: Tuesday, Feb. 4, 2014 – 12:00 am

A conservative Southern California group has launched a public pension database that includes retirees’ names, their annual pension payments, years of service, last employer and year of retirement.

Read the rest of this entry »

LATimes: California drought could force key water system to cut deliveries

174285_drought_lake_cachuma_BRV_

The water level in Lake Cachuma is dropping, in part because of sustained drought conditions across the state. (Brian van der Brug, Los Angeles Times / January 14, 2014)

By Bettina Boxall
January 31, 2014, 9:24 p.m.

Officials Friday said that for the first time ever, the State Water Project that helps supply a majority of Californians may be unable to make any deliveries except to maintain public health and safety.

Read the rest of this entry »

The PE: PUBLIC FINANCE: State tax take rises in 2012-13

Money

January 27, 2014; 04:41 PM

The California State Board of Equalization has released its annual report for fiscal year 2012-2013 highlighting more than $56 billion in California taxpayer revenue, a $3.6 billion gain from the previous year.

To read story by Debra Gruszecki in The Press Enterprise, click here.

LADailyNews: Red-light cameras being stopped

red-light-camera3

By Steve Scauzillo, San Gabriel Valley Tribune
Posted: 01/21/14, 5:34 PM PST |

Red-light cameras — controversial traffic enforcement devices that can ding an unsuspecting motorist for $500 a pop for minor infractions like illegally turning right on red — are slowly fading to black.

Read the rest of this entry »

By Jim Miller
jmiller@sacbee.com
Published: Monday, Jan. 20, 2014 – 8:22 pm

The unwinding of California’s former anti-blight program has become a grinding courtroom fight involving more than 100 active lawsuits, with the state in recent weeks suffering legal setbacks that ultimately could cost it billions.

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CCTimes: Daniel Borenstein: Time for CalPERS to get real about life expectancy

METRO

Daniel Borenstein

Daniel Borenstein, staff columnist
Posted: 01/17/2014 01:43:25 PM PST
Updated: 01/17/2014 02:51:52 PM PST

State and local governments face more pension rate increases as the nation’s largest retirement fund continues to fix its flawed accounting, this time by acknowledging that future generations will live longer.

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SacBee: CalPERS reports higher investment gains

calpers

By Dale Kasler
dkasler@sacbee.com
Published: Monday, Jan. 13, 2014 – 11:35 pm

CalPERS reported its best annual investment gains in a decade Monday, a development that could alter the political climate as another fight looms over pension reform.

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SacBee: Dan Walters: California pension reform movement clears one hurdle

Dan Walters

Dan Walters

By Dan Walters
dwalters@sacbee.com
Published: Tuesday, Jan. 7, 2014 – 4:26 pm
Last Modified: Tuesday, Jan. 7, 2014 – 10:17 pm

Two years ago, a campaign to overhaul public pensions in California was short-circuited when Attorney General Kamala Harris’ office issued a “title and summary” that was obviously slanted against the proposed ballot measure.

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Calpensions: CalPERS plans rate hike, third in last two years

calpers

By Ed Mendel
Monday, January 6, 2013

To cover the cost of retirees living longer, the CalPERS board next month is expected to approve the third rate hike in the last two years, phasing in the increase to soften the blow on state and local governments.

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Calpensions: Pension initiative gets mixed LAO cost analysis

By Ed Mendel
Monday, December 23, 2013

A pension reform initiative proposed by San Jose Mayor Chuck Reed and others got a mixed cost analysis last week from the nonpartisan Legislative Analyst’s Office, quickly trumpeted by opponents.

Read the rest of this entry »

Dan Walters

Dan Walters

By Dan Walters
dwalters@sacbee.com
Published: Wednesday, Dec. 4, 2013 – 12:00 am

A legal showdown over pension obligations in municipal bankruptcies was averted in both Vallejo and Stockton, largely because officials in both chose not to make that fight.

Read the rest of this entry »

By Dale Kasler
dkasler@sacbee.com
Published: Tuesday, Dec. 3, 2013 – 9:13 am

It was a gold-plated promise: A career in government meant a safe and sound pension, no matter what.

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Calpensions: Retiree health: bigger budget bite than pensions?

Pension Reform

By Ed Mendel
Monday, December 2, 2013

The rapidly growing cost of state worker retiree health care, a more generous benefit than received by active state workers, soon could be taking a bigger bite out of the state general fund than pensions.

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Calpensions: CalPERS investment change unlikely to raise rates

pensions

By Ed Mendel
Monday, November 18, 2013

An increase in CalPERS employer rates from switching to a less risky but lower-yielding investment portfolio seemed unlikely after a two-day board workshop last week. A final decision may not be made until February.

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Dan Walters

Dan Walters

By Dan Walters
dwalters@sacbee.com
Published: Sunday, Nov. 17, 2013 – 12:00 am

Public employee union propaganda notwithstanding, California has a serious public pension problem.

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California Seal

By Brad Branan
bbranan@sacbee.com
Published: Wednesday, Oct. 23, 2013 – 6:32 pm
Last Modified: Thursday, Oct. 24, 2013 – 8:07 am

California is not providing counties enough funding to incarcerate and rehabilitate offenders it has sent to local jails and probation offices in the last two years, criminal justice advocates and officials said Wednesday.

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