Category Archives: Pensions

Market downturn is a triple whammy for Californians

By Richard Rider | Most of us are less wealthy than last week. The stock market and crypto-currencies took dramatic tumbles. But it’s actually a triple whammy — especially for Californians. Not only did our investments, IRAs and 401(k)s take … Continue reading

Posted in Pensions, Richard Rider | Comments Off

Surging pension costs push more California cities toward bankruptcy

By Dan Walters | From one end of California to the other, hundreds of cities are facing a tsunami of pension costs that officials say is forcing them to reduce vital services and could drive some—perhaps many—into functional insolvency or … Continue reading

Posted in City Budget, City Council, Pensions | Comments Off

How much more will cities and counties have to pay CalPERS?

By Ed Ring | When speaking about pension burdens on California’s cities and counties, a perennial question is how much are the costs going to increase? In recent years, California’s biggest pension system, CalPERS, has offered “Public Agency Actuarial Valuation … Continue reading

Posted in CalPERS, Ed Ring, Pensions | Comments Off

Cases now before the state Supreme Court could open the door to pension cuts for California public employees

From KPIX-TV 5 in San Francisco:

Posted in Chuck Reed, David Crane, Joe Nation, Pensions, Richard Costigan | Comments Off

CalPERS is about to bury taxpayers in more debt

By Daniel Borenstein | Brace yourself taxpayers: CalPERS is about to bury you deeper in debt. The nation’s largest pension system is expected to adopt a funding plan this week that anticipates shortfalls during the next decade and then banks on … Continue reading

Posted in CalPERS, Daniel Borenstein, Pensions | Comments Off

Don’t let California become Chicago

By Jon Coupal | Well, it happened again. Homeowners in Chicago now face yet another property tax increase to pay for the city’s mounting pension debt. Local taxpayers have already been slammed with nearly $1.1 billion in property tax increases, … Continue reading

Posted in Howard Jarvis Taxpayers Association, Jon Coupal, Pensions, Prop. 13, Property Taxes | Comments Off

Gov. Brown finally spends political capital to fix California’s pension system

By Steven Greenhut | Gov. Jerry Brown has more political capital than, perhaps, any modern politician has had in this state. He’s an iconic figure and smarter than almost anyone else in the Capitol, so he can pretty much have … Continue reading

Posted in Pensions, Steve Greenhut | Comments Off

A crucial pension reform Congress must enact

By John Moorlach | Regardless of what else is done, here’s the missing piece Congress and President Trump must add to the tax reform they’re working on: public-employee pension reform. What good is it if you get $500 in tax … Continue reading

Posted in John Moorlach, Pensions | Comments Off

California should be able to reduce public employees’ pension benefits, Jerry Brown argues

By Adam Ashton | Gov. Jerry Brown got most of what he wanted when he carried a proposal to shore up the state’s underfunded public employee pension plans by trimming benefits for new workers. Five years later, he’s in court … Continue reading

Posted in Pensions | Comments Off

California’s public pension crisis is bad and getting worse

California’s two major public pension systems — CalPERS and CalSTRS — are underfunded and are asking local governments like the City of Fullerton to pay more to cover the gap: (Emily Zentner / The Sacramento Bee)

Posted in Pensions | Comments Off