CSR | Political Activity
Author: newspaper editor

California State Retirees endorses 2016 candidates

Posted Jun 03, 2016 by newspaper editor    0 Comment(s)  0 Likes Like Dislike

Sacramento, Calif. - The California State Retirees Board of Administration voted to endorse the following candidates in the June 7 primary election:

Legislative Incumbents
The vast majority of the Democratic incumbents recommended for endorsement are legislators who CSR has endorsed in the past and/or supported financially. Republican candidates recommended for endorsement have supported state employee Memorandum of Understanding (MOU) bills to augment state employee pay and benefits, and the state budget which includes funding for retiree healthcare and CalPERS. They also refrained from demagogic attacks on public employee pensions. Most are running for reelection unopposed and/or without serious opposition in districts that strongly favor them. For these reasons, both recommended Democrats and Republicans are certain, or nearly certain, of advancing in June and winning in November 2016.

Open-Seat Candidates
The open-seat candidates recommended here have completed CSR’s questionnaire (positively) and are strongly positioned to win in November.

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CalPERS comments on federal sentencing of former CEO Fred Buenrostro

Posted Jun 03, 2016 by newspaper editor    0 Comment(s)  0 Likes Like Dislike

May 31, 2016

FOR IMMEDIATE RELEASE

SACRAMENTO, CA  The California Public Employees’ Retirement System (CalPERS) today issued the following statements on the sentencing of its former Chief Executive Officer, Fred Buenrostro, in federal court in San Francisco on bribery charges. Mr. Buenrostro served as CEO of CalPERS from 2002 to 2008.

Rob Feckner, CalPERS Board of Administration President: “This saga has now come to an end. We are stewards of a sacred trust, and it must never be compromised for personal gain. As an organization, we’ve taken meaningful steps to strengthen accountability and transparency throughout CalPERS. We’ll continue to work to make sure these measures are rigorously followed and that we hold ourselves to the highest ethical standards.”

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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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California’s pension debt puts it $175.1 billion in the red

Posted Mar 18, 2016 by newspaper editor    0 Comment(s)  1 Likes Like Dislike

Gov. Jerry Brown uses charts to outline his proposed 2016-17 budget. The budget pegs unfunded retiree health care debt at $71.8 billion.

Although its 2014-15 budget was balanced, California’s state government ended the fiscal year $175.1 billion in the red, thanks largely to state retirement obligations that had to be included in its balance sheet for the first time.

Under new rules by the Governmental Accounting Standards Board, state and local governments must list unfunded pension liabilities as debts alongside the more traditional bonds and other forms of debt.

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California to collect $20 million in CalPERS bribery settlement

Posted Mar 18, 2016 by newspaper editor    0 Comment(s)  0 Likes Like Dislike

The late Alfred Villalobos, who was accused of bribing CalPERS officials, speaking in 2008 at the dedication of a building named for him at Whittier College.

Nearing the finish line in the biggest scandal in CalPERS’ history, California officials accepted $20 million to settle civil charges over the bribery case that has hounded the giant pension fund for years.

Arvco Capital Research, a defunct Nevada investment bank owned by late financier Alfred Villalobos, agreed to pay the state $20 million to resolve a state lawsuit accusing Villalobos and his firm of bribing officials at CalPERS. The sum includes $10 million in attorneys’ fees

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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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Unions discuss possible implications of Supreme Court case on fair share fees

Posted Jan 13, 2016 by newspaper editor    0 Comment(s)  0 Likes Like Dislike

Sacramento Bee,  Jan. 13, 2016 -- State and local public union officials plowed through a 100-page U.S. Supreme Court transcript on Monday, trying to divine how the nine justices are leaning in a case with the potential to tie a knot in the pipeline of money that feeds their treasuries.

While the outcome of Friedrichs v. California Teachers Association could end compulsory payments to government unions, maintain the status quo or fall somewhere in between, the labor leaders interviewed by The Sacramento Bee remained optimistic regardless of the outcome that their associations would adapt.

“We’ll continue to exist,” said Dave Low, executive director of the California School Employees Association, “but it would weaken us.”

 

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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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