Posts Tagged ‘CalPERS’Train agency ‘raids’ CalPERS for exec talent: Oy vey!Wednesday, March 6th, 2013 March 6, 2013 By Chris Reed When the press release came out Monday that the California High-Speed Rail Authority had recruited a top executive away from the California Public Employees' Retirement System, a Tweet from former Los Angeles Times journo Joe Mathews asked me if my head had explod... Outrage at CalPERS’ 85% rate hike for long-term careWednesday, February 20th, 2013 Feb. 20, 2013 By Dave Roberts When tens of thousands of state employees signed up for the California Public Employees Retirement System's long-term care insurance plan as it was first offered in 1995, they thought they were doing the prudent thing for themselves and their loved ones. For a rea... Scandal ‘boring’? Arrogant Jerry Brown drinks his own Kool-AidWednesday, February 6th, 2013 Feb. 6, 2013 By Chris Reed Sacramento is still buzzing over a bizarre and obnoxious scandal in which state parks officials hid $54 million while pressing to close 70 parks, and along comes another scandal in which Cal Fire hides millions of dollars while successfully pushing for a new fire-pro... Why don’t pension funds divest from ALL arms companies?Wednesday, January 30th, 2013 Jan. 30, 2013 By John Seiler After the December shootings at Newtown, Conn., California Treasurer Bill Lockyer and others took aim at some arms manufacturers. Lockyer "said he’ll propose that the state’s public pension funds, the two largest in the U.S., sell off investments in firearm ... Firefighter one of nation’s safest jobsWednesday, January 23rd, 2013Jan. 23, 2013 By Steven Greenhut The nation's astoundingly well-paid public firefighters insist that they receive their high salaries and pensions (averaging around $175,000 a year in total compensation in California, with age-50 retirements and schedules that allow them to sleep on the job a... Being CalPERS means never having to say you’re sorrySunday, January 20th, 2013 Jan. 20, 2013 By Chris Reed So CalPERS is found to allow ridiculous, outrageous double-dipping by salaried employees that boosts their pay (and probably their pensions), and faces sharp criticism. So when the giant pension fund responds, does it do so with an apology? Of course not, according ... CalSTRS moves to increase your taxesThursday, January 10th, 2013Jan. 10, 2013 By John Seiler The California State Teachers Retirement System just moved to increase your taxes. They didn't do so directly, but that will be the result. Because when CalSTRS investments don't grow fast enough, by law taxpayers are on the hook to make up the difference. Already,... San Bernardino may have to pay pensions before police protectionWednesday, December 26th, 2012 Dec. 26, 2012 By Wayne Lusvardi Do pension payments have the first claim to a bankrupt city’s revenues, even over providing essential police and fire protection? This is the half-trillion-dollar question currently before a Federal bankruptcy court concerning the insolvency of the city of S... You and what army are going to make me pay?Monday, December 24th, 2012Dec. 24, 2012 By Chris Reed The city of San Bernardino’s defiance of CalPERS’ demands for payment will be remembered as the first in a very long line of defiant acts from local governments in California as budgets that don’t add up force local officials to make tough and often unpreceden... Starving CA govt. begins to devour itselfTuesday, December 18th, 2012 Dec. 18, 2012 By Mark Cabaniss Caught between rising pension costs and declining tax receipts, several local governments in California have gone bankrupt, including the city of San Bernardino, which has stopped making its required contributions to the California Public Employees Retirement S... |