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Articles for category Retirees

California Highway Patrol officers' union agrees to monthly furlough

Posted Jun 08, 2012 by newspaper editor    0 Comment(s)  1 Likes Like Dislike

For the first time, California's Highway Patrol officers are going to be furloughed.

The union reached an agreement at with Gov. Jerry Brown that furloughs Patrol officers 8 hours per month for one year starting July 1. Officers can bank the hours to take later, but their paychecks will reflect the 5 percent pay reduction regardless.

Department of Personnel Administration spokeswoman Lynelle Jolley confirmed the agreement. Jon Hamm, CEO of the California Association of Highway Patrolmen, said that the language of the agreement encourages officers to take their banked furlough time before taking paid vacation.

The Brown administration had said that it wanted to avoid a policy that allowed banking furlough hours because that leads to employees taking less paid leave, creating a deferred cost for the state when the leave credits with monetary value are cashed out at the end of an employees' career.

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Votes on public pensions fuel calls for statewide change

Posted Jun 07, 2012 by newspaper editor    2 Comment(s)  0 Likes Like Dislike

 


Tuesday's landslide pension reform votes in San Diego and San Jose were just the early tremors in what could become a public pension earthquake by the end of this month.

The big question: What does this mean for pension reform legislation at the Capitol?

Gov. Jerry Brown, who has floated a 12-point pension reform plan, told a San Francisco Chronicle reporter on Wednesday that the vote in liberal San Jose was "a very powerful signal" that pension reform is "an imperative" that he's putting "at the top of the agenda." Brown thinks pension reform will make his tax initiative more palatable to voters in November, although he hasn't talked about it much until now.

 

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Gov. Walker survives recall in Wisconsin

Posted Jun 06, 2012 by newspaper editor    0 Comment(s)  0 Likes Like Dislike

Wisconsin Gov. Scott Walker won a vote to keep his job on Tuesday, surviving a recall effort that turned the Republican into a conservative icon and his state into the first battleground in a bitter, expensive election year.

Walker defeated Milwaukee Mayor Tom Barrett (D). That made Walker the first governor in U.S. history to survive a recall election; two others had failed.

Exit polls showed that Democrats had captured nearly 69 percent of the voters who made up their minds in the past few days. But it wasn’t enough.

Instead, the night provided a huge boost for Walker — as well as Republicans in Washington and state capitals who have embraced the same energetic, austere brand of fiscal conservatism as a solution for recession and debt. In a state known for a strong progressive tradition, Walker defended his policies against the full force of the labor movement and the modern left.

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San Jose voters approve pension reforms

Posted Jun 06, 2012 by newspaper editor    0 Comment(s)  0 Likes Like Dislike

San Jose voters Tuesday handed Mayor Chuck Reed a crucial victory with his nationally watched pension reform measure passing by a decisive margin.It was a big night for pension reform, with a San Diego measure also winning by a wide margin. City employee unions who argued the measures are illegal were expected to challenge both in court.

But voter approval of San Jose's Measure B puts Reed and the city in the vanguard of efforts to shrink taxpayer bills for generous government pension plans. Passage also strengthen's Reed's hand as he and his City Council allies work to enact the measure's reforms with a vote next week to reduce pensions for new hires.

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Backlog at California's CalPERS fund worse than before new computer system launched

Posted Apr 18, 2012 by newspaper editor    0 Comment(s)  1 Likes Like Dislike

The line at CalPERS' customer service window is getting longer.

After converting to a half-billion-dollar computer system to process benefits for hundreds of thousands of California public agency retirees last September, backlogs for some services are worse than before the project launched.

The new hardware and software installed by New York-based tech firm Accenture aimed to consolidate 49 old data systems into one when it launched last September, two years late at nearly twice its original $279 million budget. The California Public Employees' Retirement System committed another $6.8 million in December, bringing the total cost to $514 million. The money has come from CalPERS assets, currently valued at $234 billion.

Meanwhile, fund members have complained that a system intended to speed up service and boost efficiency has done the opposite.

 

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Untouchable Pensions May Be Tested in California

Posted Mar 19, 2012 by newspaper editor    0 Comment(s)  0 Likes Like Dislike

   When the city manager of troubled Stockton, Calif., had to tell city council members why it was on track to become the biggest American city yet to go bankrupt, it took hours to get through the list.
   There was the free health care for retirees, the unpaid parking tickets, the revenue bonds without enough revenue to pay them. On it went, a grim drumbeat of practically every fiscal malady imaginable, except an obvious one: municipal pensions. Stockton is spending some $30 million a year to pay for them, but it has less than 70 cents set aside for every dollar of benefits its workers expect.
 

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Retired public workers can count on promised benefits, court says

Posted Nov 22, 2011 by newspaper editor    2 Comment(s)  8 Likes Like Dislike

Health benefits for government retirees may not be eliminated if state and local governments had clearly promised workers those benefits, the California Supreme Court ruled in an Orange County case Monday.

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Half of Californians will retire in or near poverty

Posted Oct 06, 2011 by newspaper editor    0 Comment(s)  2 Likes Like Dislike

    Approximately half of California workers will retire in or near poverty, according to a study published Monday by the UC Berkeley Center for Labor Research and Education.  [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...]



Open Enrollment runs Oct. 10 to Nov.4

Posted Oct 05, 2011 by newspaper editor    0 Comment(s)  0 Likes Like Dislike

    The time for CalPERS members to make changes to their health plan or add eligible family members begins Oct. 10 and continues through Nov. 4. In mid-August, CalPERS Open Enrollment packets were mailed to eligible members. [Read More...]



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