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Articles for category Retirement

Retirement for all proposal moves ahead

Posted Mar 28, 2016 by newspaper editor    0 Comment(s)  0 Likes Like Dislike

Sacramento, Calif. - By the end of the decade, millions of California workers could be enrolled automatically in a state-run retirement program viewed by proponents as the most significant attempt to address golden-years poverty since the New Deal.

After more than two years of work, the California Secure Choice Retirement Savings Investment Board will vote Monday on a slate of recommendations to the Legislature on what a state-managed plan should look like. Those will be folded into pending legislation by Senate leader Kevin de León, D-Los Angeles, with the goal of putting a bill on Gov. Jerry Brown’s desk this summer.

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Public pension critics launch another initiative

Posted Jan 27, 2016 by newspaper editor    0 Comment(s)  0 Likes Like Dislike

Jan. 26, 2016 /PRNewswire-USNewswire/ -- A group of nationally recognized pension reformers today announced the launch of the Retirement Security Initiative (RSI), a national, bipartisan advocacy organization focused on helping state and local governments meet their pension obligations and avoid insolvency. Spearheading the group's efforts are: former Utah State Senator Dan Liljenquist; former Lt. Governor of New York Richard Ravitch; former Mayor of San Jose Chuck Reed; former CFO of Chicago Lois Scott; and financial restructuring expert Jim Spiotto.

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Reed, DeMaio drop pension measure -- for now

Posted Jan 19, 2016 by newspaper editor    0 Comment(s)  0 Likes Like Dislike

Measure to curb California public pensions is pulled – for now

Sacramento Bee, Jan. 19, 2016

Beleaguered by fundraising doubts and attacks from organized labor, two former California officials said Monday they are backing off plans to place a measure on the November ballot intended to curb public pension benefits.

Instead, former San Jose Mayor Chuck Reed and former San Diego Councilman Carl DeMaio said in a joint announcement, “We have decided to re-file at least one of our pension reform measures later this year for the November 2018 ballot.”

Reed said in a telephone interview that he is disappointed but undeterred. Professional fundraisers and potential donors, he said, believed that economics, politics and a pending U.S. Supreme Court decision would strengthen the likelihood of passing a pension measure in two years.

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One pension scheme shelved -- New ballot measure planned

Posted Oct 08, 2015 by newspaper editor    0 Comment(s)  0 Likes Like Dislike

Chuck Reed and Carl DeMaio announced they will not be circulating for signatures the pension initiative they previously announced earlier this year while promising to announce two more pension initiatives. The decision reflects, again, that Reed and company can't "handle the truth" about their pension schemes. Impact of Reed/DeMaio Pension Measures on New Public Employees

 

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CSR urges CalPERS to extend open enrollment for Medicare members

Posted Oct 01, 2015 by newspaper editor    1 Comment(s)  1 Likes Like Dislike

The California State Retirees Health Benefits Committee is calling for CalPERS to extend open enrollment for retirees this year because changes in Medicare health plan offerings were not adequately explained in time for members to make informed decisions by the Oct. 9 enrollment deadline.

 

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Agreement could lead the way for retiree health care pre-funding

Posted Sep 02, 2015 by newspaper editor    0 Comment(s)  0 Likes Like Dislike

Gov. Jerry Brown’s administration has reached a tentative deal with a key employee union that would require state engineers to contribute toward their retirement health care benefits, likely establishing a template that will be applied to other state employee unions to help reduce a growing financial liability.

Under the three-year agreement, which still must be ratified by the union’s members and the Democratic-dominated Legislature, the Professional Engineers in California Government in mid-2017 would have to begin paying one-half of 1 percent of their pre-tax salaries into a fund to chip away at the fiscal millstone.

 

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CalPERS names Doug McKeever as deputy executive officer for benefit programs, policies and planning

Posted Sep 02, 2015 by newspaper editor    0 Comment(s)  0 Likes Like Dislike


 The California Public Employees' Retirement System (CalPERS) has named Doug McKeever the new Deputy Executive Officer (DEO) for Benefit Programs Policy and Planning.

McKeever, who has [Read More...]



Count the bad ideas in California pension proposal

Posted Aug 21, 2015 by newspaper editor    0 Comment(s)  0 Likes Like Dislike

Along with taxation and immigration, one political issue that never seems to go away is the cost of public employees, especially their pensions.

Public retirement plans are consistently blamed for local and state budget woes. Any time a community runs into fiscal trouble, its workers are among the first to be demonized, and often bear the brunt of the remedies. After all, pension obligations are typically among the largest liabilities any government entity must bear, so why not hack away?

In California, pension overhaul proposals have become a perennial feature of state and local ballot campaigns. Failed proposals were aimed at the statewide ballot twice in the last four years, and the proponents of the last effort, in 2014, have started the ball rolling for a new measure.

 

 

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Attorney General releases summary on Reed initiative

Posted Aug 12, 2015 by newspaper editor    0 Comment(s)  0 Likes Like Dislike

Proponents of a California ballot initiative requiring pension changes to go through a public vote on Tuesday rejected Attorney General Kamala Harris’ official description of the measure as an attempt “to try to mislead the public.”

For every ballot measure, the attorney general’s office issues a short name and description to appear on the petitions that backers use to get signatures. Because it is often the entry point for voters to understand what’s in a ballot initiative, the wording carries high stakes.

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Reed/DeMaio initiative threatens the middle class

Posted Jul 27, 2015 by newspaper editor    0 Comment(s)  0 Likes Like Dislike

By Dave Low, chair of Californians for Retirement Security

In their never-ending effort to force-feed warmed-over political ideas to a skeptical public, the pension attackers are back, using new poll-tested language and focus-grouped talking points to undermine retirement security for millions of working families.

Under the Orwellian moniker of the “Voter Empowerment Act,” former San Jose Mayor Chuck Reed, former San Diego Councilman Carl DeMaio and their anti-pension cohorts are proposing nothing short of gutting the public employee pension system – one of the last bastions of middle-class economic security.

They are falsely selling their proposed ballot measure as a potential cut in pensions for new employees. In reality, it could cut or eliminate pensions earned by current employees for future work.

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