Category Archives: CalPERS

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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