CSR | Political Activity

CSR Legislative Report - May 22, 2015

Posted May 26, 2015 by newspaper editor    0 Comment(s)  0 Likes Like Dislike

The following PDF is a list of Bills that CSR is supporting, opposing, or watching.

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Justices make it easier to sue over 401 (k)s

Posted May 19, 2015 by newspaper editor    0 Comment(s)  0 Likes Like Dislike

WASHINGTON (AP) — The Supreme Court ruled unanimously Monday in favor of participants in employee retirement plans who object to companies' investment decisions that eat into retirement savings.

The justices revived claims by current and former employees of energy company Edison International. The employees argued that the company chose mutual funds with excessive fees.

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Governor unveils revised budget

Posted May 15, 2015 by newspaper editor    0 Comment(s)  0 Likes Like Dislike

On Thursday, Gov. Jerry Brown (D) released the revised version of his fiscal year 2015-2016 budget plan, which includes several health care proposals, the Los Angeles Times reports.

The revised $169 billion budget is more than $4 billion larger than the original proposal unveiled in January (Megerian, Los Angeles Times, 5/14). The revised plan would increase health and social services spending by about $1.7 billion (Richman, San Jose Mercury News, 5/14).

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Henry Jones is unofficially declared retiree representative on the CalPERS board

Posted May 15, 2015 by newspaper editor    0 Comment(s)  0 Likes Like Dislike

Henry Jones has been declared the unofficial winner in the 2015 election of the retired member representative seat on the California Public Employees' Retirement System (CalPERS) Board of Administration. There was no opposition to Jones' re-election and pending certification of the election by California's Secretary of State, he will begin a new four-year term of service on the Board on January 16, 2016.

"I'm honored to serve another term and represent our retirees," said Jones, CalPERS Vice President. "I look forward to continuing to work in my leadership role alongside my colleagues on the Board to ensure the long-term sustainability of the pension fund and our health care program."

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Pension changes could be dampening the economy

Posted May 13, 2015 by newspaper editor    0 Comment(s)  0 Likes Like Dislike

Some pension program changes, such as the shift to defined contribution plans from defined benefit plans, might be widening the income gap and dampening economic growth, said a new report from the National Conference on Public Employee Retirement Systems.

There are conversations about income and equality, but few touch on the treatment of pensioners and how that contributes to income inequality, said Hank Kim, Washington-based, executive director and counsel at NCPERS and co-author of the report.

In the private sector, there has been a shift to DC plans from DB plans. Between 1975 and 2011, the number of private sector DB plans declined by 57% and the number of employees covered by DB plans declined 10%, NCPERS’ research found.

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CalPERS wins another bankruptcy ruling

Posted May 13, 2015 by newspaper editor    0 Comment(s)  0 Likes Like Dislike

Government pensions in California have withstood another fierce challenge in bankruptcy court.

A bankruptcy judge has dismissed a lawsuit filed by two disgruntled bond creditors challenging the city of San Bernardino’s decision to make its pension payments in full to CalPERS.

Ruling from Riverside, U.S. Bankruptcy Judge Meredith Jury tossed the claim filed by the two creditors, Ambac Assurance Corp. and a Luxembourg bank named EEPK.

Last fall the city, which filed for bankruptcy protection in 2012, said it would pay its $24 million-a-year CalPERS bill in full. Ambac and EEPK said that arrangement was unfair to other creditors. Although San Bernardino hasn’t filed its complete repayment plan, it’s likely that many creditors would stand to receive only a portion of what they’re owed.

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San Bernardino to slash retiree health care in bankruptcy plan

Posted May 12, 2015 by newspaper editor    1 Comment(s)  0 Likes Like Dislike

LOS ANGELES (Reuters) - The southern California city of San Bernardino has proposed virtually eliminating retiree health insurance costs under a bankruptcy exit plan it must produce by May 31, according to an attorney involved in negotiations with city officials.

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CSR Legislative Report

Posted May 06, 2015 by newspaper editor    0 Comment(s)  0 Likes Like Dislike

The following PDF is a list of Bills that CSR is supporting, opposing, or watching.

May 04, 2015 Legislative Report

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Long-term care reform package making its way through Legislature

Posted May 01, 2015 by newspaper editor    0 Comment(s)  0 Likes Like Dislike

Long-Term Care Reform Package Making Its Way Through Legislature

California legislators are considering a package of 24 bills this session collectively aimed at improving the state's support network for aging services and long-term care.

The bills -- 12 in the Assembly and 12 in the Senate -- deal with a variety of issues involving some of the 112 separate programs for aging and long-term care overseen by 20 different agencies and departments in the state and county governments.

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Chapter Officer and Delegate Election Ballot Instructions

Posted Apr 29, 2015 by newspaper editor    0 Comment(s)  0 Likes Like Dislike

BALLOT INSTRUCTIONS: Read and follow the instructions carefully to ensure your vote is counted. 

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