Category Archives: Pensions

Decision on ‘California rule’ will impact who rules California

By Jon Coupal | On its surface, the case heard last Wednesday by the California Supreme Court in CalFire Local 2881 vs. CalPERS doesn’t seem that important. At issue is the so-called “California Rule,” an obscure legal doctrine relating to … Continue reading

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The public pension bomb

Steven Malanga and Dan DiSalvo of the Manhattan Institute join John Stossel to talk about America’s underfunded government-pension systems—the costs of which are consuming larger portions of state and city tax revenues, squeezing budgets, and limiting vital public services (as … Continue reading

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Tonight: PBS ‘Frontline’ episode looks at the public pension crisis

There will be a PBS Frontline episode tonight on “the role of state governments and Wall Street in driving America’s public pensions into a multi-trillion-dollar hole.” It concentrates on  Kentucky and examines “the broader consequences for teachers, police, firefighters and … Continue reading

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The Federal Reserve tells a big truth

By David Crane | On September 20, the Federal Reserve recognized a truth long covered up by California’s public pension funds. In its latest quarterly Financial Accounts report the Fed revised its measure of unfunded pension liabilities owed by state and local … Continue reading

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The real story behind Sacramento’s push for tax hikes: pension red ink

Editorial, San Diego Union-Tribune | Two bold proposals to increase both taxes and what can be taxed illustrate how California’s elected leaders are failing to be honest with voters about the nature of the budget problems facing the state. The … Continue reading

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Transparent California executive director talks with John and Ken

Robert Fellner, executive director of the pension data website Transparent California, was a guest yesterday on the  John and Ken Show on KFI Radio. They discussed the latest report in which Transparent California documented a nearly 900% increase in promised CalPERS … Continue reading

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Sen. John Moorlach explains California’s financial crisis at a Huntington Beach Town Hall

On July 12, state Senator John Moorlach (R-Costa Mesa), took part in a panel discussion on social investing for our state pension system (CalPERS) at a Town Hall in Huntington Beach. You can view the video here: Also participating were … Continue reading

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More pension math: CalPERS’ and CalSTRS’ investment earnings

By David Crane | Triggered by recent earnings reports from CalPERS and CalSTRS, some readers have asked why California’s pension funds are underperforming the overall stock market. For example, for the fiscal year just ended June 30, 2018, CalSTRS and … Continue reading

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Nearly 900% increase in CalPERS benefits dwarfs economic growth, taxpayers’ ability to pay

The total pension benefits promised by the California Public Employees’ Retirement System (CalPERS) increased 886 percent from 1987-2016 — a rate 21 times greater than the cumulative increase in the state’s population, according to a just-released analysis from Transparent California. … Continue reading

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Coy about taxes and pension costs

By Dan Walters, CALmatters | California’s economy may be booming, but throughout the state, local governments—including school districts—are feeling the financial pinch and asking their voters to approve new taxes of one kind or another. There were 111 local tax … Continue reading

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