Category Archives: CalPERS

CalPERS is shocked – just shocked – to find cities reeling under the burden of growing pension debt

By Steven Greenhut | The California Public Employees’ Retirement System’s union defenders feign shock whenever pension reformers accuse it of “kicking the can down the road” in dealing with the state’s mounting pension debt. It’s like the scene from Casablanca, … Continue reading

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California’s statewide ‘$100,000 Pension Club’ membership stands at 62,474

Transparent California has announced that it has now received the most current pension payout data from almost all of California’s state, county and city pension funds. According to this data there were at least 62,474 retired public employees who collected pensions of … Continue reading

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Fullerton’s ‘$100,000 Pension Club’ now has 90 members

Transparent California recently updated its website with 2016 pension data for the City of Fullerton. Following is a list of the 90 retired Fullerton city employees (out of a total of 696 retirees) who are receiving annual pensions of $100,000 … Continue reading

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Public employee pensions vs. a split roll for Proposition 13

By Joel Fox | I guess I should use the old vaudeville line: Stop me if you’ve heard this one: the push to increase commercial property taxes is about government pension costs. Returning to this subject at this time (I … Continue reading

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Cities facing fiscal mess plead with CalPERS as pensions consume budgets

By Steven Greenhut | If you ask the union-controlled California Public Employees’ Retirement System about the state’s looming pension crisis, you’re likely to get this answer: What pension crisis? But the story was much different at CalPERS’ own Finance and … Continue reading

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Cities throughout the state are ‘gravely concerned’ about ‘unsustainable’ pension costs

By Ed Mendel | The city manager of once-bankrupt Vallejo expects soaring police pension costs to reach 98 percent of pay in a decade. Lodi employees dropped from 490 to 390 in the last decade. And Oroville, after cutting a third … Continue reading

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Forget fiscal responsibility: Jerry Brown embraces pension shell game

By Steven Greenhut | The Jerry Brown administration last week released its revised May budget and, lo and behold, it has finally decided to (kind of, sort of) tackle the state’s massive and growing level of unfunded liabilities – i.e., … Continue reading

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When lunatics run the asylum you get Monty Python

More bad pension news for California cities. By Steven Greenhut, The American Spectator | California’s pension funds continue to face a fusillade of bad news, including new reports showing that retirement benefits consume 20 percent of Los Angeles’ general-fund budget. … Continue reading

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Bad news coming for California cities as CalPERS staff nudges board to consider lower return rates

By Steven Greenhut | There’s bad news coming down the pike for California municipalities following several days of board meetings for the nation’s largest state-based pension fund. Although no action has been taken, it’s clear the California Public Employees’ Retirement … Continue reading

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More pension pain ahead for Fullerton

CalPERS, CalSTRS considering more rate increases By Ed Mendel, Calpensions | The state’s two largest public pension systems never recovered from huge investment losses during the deep recession and stock market crash in 2008. CalPERS lost about $100 billion and CalSTRS … Continue reading

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