CSR | Political Activity

Key figure in CalPERS corruption case dies

Posted Jan 14, 2015 by newspaper editor    0 Comment(s)  0 Likes Like Dislike

The Sacramento Bee reported Jan. 14 that Alfred Villalobos, accused of bribing former CalPERS Chief Executive Officer Fred Buenrostro to influence the fund’s business decisions, has died.

[Read More...]



CalPERS fiscal health improves

Posted Jan 14, 2015 by newspaper editor    0 Comment(s)  0 Likes Like Dislike

A new report on the fiscal health of CalPERS shows an estimated funding level of 77 percent for the Public Employees’ Retirement Fund (PERF) in 2014 – a positive growth of more than 7 percentage points over 2013. The PERF was funded at 69.8 percent as of June 30, 2013 based on the most recent actuarial value of assets. The PERF is the main pension trust fund that pays retirement benefits.

[Read More...]



CSR's legislative advocate Ted Toppin reviews the governor's proposed budget

Posted Jan 09, 2015 by newspaper editor    0 Comment(s)  0 Likes Like Dislike

Budget deliberation kicked off in the Capitol this morning with the release of Governor Brown’s proposed 2015-2016 state budget.  He proposes $113.3 billion in general fund and $51.4 billion in special fund expenditures making for a $164.7 billion spending plan.  This represents a 1.4 percent bump over current year spending.

[Read More...]



Governor releases his proposed state budget

Posted Jan 09, 2015 by newspaper editor    0 Comment(s)  0 Likes Like Dislike

Governor Edmund G. Brown Jr. on Jan. 9 proposed a balanced budget that injects billions of dollars more into schools and health care coverage, holds college tuition flat and delivers on Propositions 1 and 2 by investing in long overdue water projects and saving money, while continuing to chip away at the state’s other long-term liabilities – debt, infrastructure, retiree health care and climate change.

[Read More...]



CalPERS issues statement on proposed state budget

Posted Jan 09, 2015 by newspaper editor    0 Comment(s)  0 Likes Like Dislike

 Anne Stausboll, Chief Executive Officer for the California Public Employees’ Retirement System (CalPERS) issued the following statement today in response to the proposed state budget and efforts to reduce health care costs today and in the future:

"Managing and paying for the cost of health care for public employees requires discipline, collaboration and innovation. We applaud the Governor’s wisdom to do what CalPERS and many public employers have done in recent years, tackling the cost of health care and retiree health care," Stausboll said.

[Read More...]



Brown's budget aims at retiree costs

Posted Dec 18, 2014 by newspaper editor    0 Comment(s)  0 Likes Like Dislike

It’s official: Gov. Jerry Brown’s January budget proposal will include a plan to reduce the nearly $72 billion in unfunded promises the state has made to pay retiree health benefits.

Now how to pay it? Answer: Money in the rainy day fund that voters approved just last month, Proposition 2.

[Read More...]



Congress agrees to allow cuts to some retiree benefits

Posted Dec 11, 2014 by newspaper editor    0 Comment(s)  0 Likes Like Dislike

Retirees covered by financially troubled multiemployer pensions could soon see their benefits cut under a congressional spending deal to keep the government running, the Associated Press (AP) reported Dec. 10.

The plan does not affect public pensions like those under CalPERS, but California State Retirees is closely monitoring this and all other pension issues and trends.

[Read More...]



Congressional leaders hammer out deal to allow pension plans to cut retiree benefits

Posted Dec 10, 2014 by newspaper editor    1 Comment(s)  0 Likes Like Dislike

The following article appeared on the Washington Post website regarding a plan that would allow pension plans to cut retiree benefits. The California State Retirees is closely monitoring this legislation, and assessing the impact. We will keep our members apprised as new information becomes available. The article is presented below for your information. California State Retirees

The Washington Post -- A measure that would for the first time allow the benefits of current retirees to be severely cut is set to be attached to a massive spending bill, part of an effort to save some of the nation’s most distressed pension plans.
 
The rule would alter 40 years of federal law and could affect millions of workers, many of them part of a shrinking corps of middle-income employees in businesses such as trucking, construction and supermarkets.

[Read More...]



New research shows defined benefit plans can provide pensions at half the cost of individual accounts

Posted Dec 04, 2014 by newspaper editor    0 Comment(s)  0 Likes Like Dislike

A new report finds that defined benefit (DB) pension plans are a far more cost-efficient means of providing retirement income as compared to individual defined contribution (DC) accounts. The study calculates that the economic efficiencies embedded in pensions enable these retirement plans to deliver the same retirement income at a 48% lower cost than 401(k)-type DC accounts.

[Read More...]



Appeal threatens federal court ruling on Stockton bankruptcy

Posted Nov 14, 2014 by newspaper editor    0 Comment(s)  0 Likes Like Dislike

Taking aim again at government pensions, an angry creditor in Stockton’s bankruptcy case is appealing a pivotal court ruling that preserved the city’s retirement plans.

Franklin Templeton Investments filed a notice of appeal this week, challenging the Oct. 30 decision that approved Stockton’s reorganization plan. The plan keeps the pensions fully funded but pays Franklin, which loaned the city $36 million during better economic times, just 12 cents on the dollar.

 

[Read More...]



1 ... 12 13 14 15 16 17 18 19 20 21 ... 29

CSR is the largest, most experienced organization exclusively representing state government retirees!

 

Find Us

California State Retirees
3000 Advantage Way Sacramento, CA 95834

Contact Us

888.808.7197
916.326.4292
csrinfo@calretirees.org
Fax 916.326.4201

Follow Us

 
 

Hear From Us