CSR | Legislative Activity
Articles for category State Employees

Legislative panel working on ‘hybrid’ pension

Posted Apr 11, 2012 by newspaper editor    0 Comment(s)  0 Likes Like Dislike

SANTA ROSA — A two-house legislative committee is working with Gov. Brown’s Department of Finance on a ‘hybrid’ retirement plan for new state and local government hires, a committee member told a forum here last week.

Assemblyman Michael Allen, D-Santa Rosa, twice referred to a “cash balance” plan while talking about a cost-cutting hybrid, proposed by Brown, that combines a lower pension with a 401(k)-style individual investment plan.

[Read More...]



Study: Public, private workers' retirement wealth roughly equal

Posted Oct 06, 2011 by newspaper editor    0 Comment(s)  -1 Likes Like Dislike

    A new study by the Center for Retirement Research and Boston College refutes the notion that state and local government workers as a group end up a lot richer than their private sector counterparts.  [Read More...]



Plan to fix its finances thrown into jeopardy.

Posted Sep 28, 2011 by    0 Comment(s)  0 Likes Like Dislike

Faced with a growing pension burden, Los Angeles Mayor Antonio Villaraigosa and the City Council moved this summer to freeze the amount of healthcare benefits given to thousands of police and firefighters once they retire. Those benefits would not increase in coming years, Villaraigosa said, unless employees contribute more toward retirement from their paychecks. [Read More...]



Assembly throws in towel on public pension reform -- for now

Posted Sep 09, 2011 by newspaper editor    2 Comment(s)  1 Likes Like Dislike

Sacramento Bee Sept. 8, 2011 --Lawmakers essentially threw in the towel Thursday on comprehensive public pension reform - at least for now.

With this year's legislative session scheduled to end at midnight today, the Assembly voted 51-21 to approve a last-minute bill declaring its commitment to pension reform but conceding that more time is needed.

[Read More...]



CalPERS Retirement Payments in 2010 Boost California's Economy by $26 Billion

Posted Jul 13, 2011 by newspaper editor    0 Comment(s)  -1 Likes Like Dislike

CalPERS benefit payments rippled through the California economy last year, generating $26 billion in economic activity and supporting more than 93,600 jobs across the state, Anne Stausboll, Chief Executive Officer of the California Public Employees' Retirement System, told a Washington, D.C., conference today.
[Read More...]



California pension proposal seeks to hike employee contributions

Posted Jul 12, 2011 by newspaper editor    0 Comment(s)  0 Likes Like Dislike

From California to Florida, many public employees are paying more for their pensions now than a year ago as strapped state and local governments cast about for savings.

Now a sweeping Republican proposal in the California Senate, among other changes, would hike how much all current and future state and local government workers pay toward their pensions.
[Read More...]



California Budget Deal Leaves GOP out in Cold

Posted Jun 30, 2011 by newspaper editor    0 Comment(s)  -1 Likes Like Dislike

California's legislature passed a Democrat-crafted plan late Tuesday to close a budget gap that initially stood at $27.6 billion—the first time in decades that state lawmakers approved a budget without Republican support in a move that could have far-reaching consequences for California.

The $86 billion spending plan for the fiscal year starting Friday was endorsed Monday by Democratic Gov. Jerry Brown after he earlier vetoed another budget passed by the legislature. The new budget was approved by just over half of each house of the legislature, the first such budget since California voters last year reversed a decades-old law requiring budget approval by two-thirds of lawmakers. The reversal meant the budget could pass with support from only Democrats.

[Read More...]



Brown, Democrats reach budget deal without taxes

Posted Jun 28, 2011 by newspaper editor    0 Comment(s)  0 Likes Like Dislike

Abandoning negotiations with Republican lawmakers, Gov. Jerry Brown struck a deal with Democrats for a budget that assumes billions of dollars in fresh revenue — but could lead to major service cuts if the money doesn't materialize.

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Jerry Brown, Democratic leaders announce budget deal

Posted Jun 27, 2011 by newspaper editor    0 Comment(s)  -1 Likes Like Dislike

Gov. Jerry Brown and Democratic legislative leaders announced today that they have reached an agreement on a new majority-vote budget plan.

"We've had some tough discussions, but I can tell you that the Democrats in both the Senate and the Assembly have now joined with the administration and myself and we have a very good plan going forward with the budget," Brown said at a press conference in his office this afternoon.
[Read More...]



Brown's spokesman calls Republicans 'basically moronic'

Posted Jun 27, 2011 by newspaper editor    0 Comment(s)  -1 Likes Like Dislike

With California's new fiscal year starting Friday and no compromise with the GOP on a budget in sight, Gov. Jerry Brown's chief spokesman called Sacramento Republicans "basically moronic" for failing to strike [Read More...]



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