New York Times June 21, 2011
Then Jim Righeimer, a conservative activist and real estate developer, jumped into the race last year.
The city was on the road to insolvency, he warned, because public employee unions had pressured politicians into handing over generous salaries and pensions. The police chief received $298,000 a year in total compensation, Mr. Righeimer noted. The deputy fire chief had retired with a pension of more than $182,000 a year.
Sacramento Bee June 16, 2011
Gov. Jerry Brown vetoed his own party's budget today, less than 24 hours after Democratic lawmakers sent him a majority-vote plan balanced with risky solutions.
The Democratic governor said during his campaign and throughout this year he would not sign a budget filled with "gimmicks," though he suggested earlier this week he had relaxed that stance.
The California Public Employees’ Retirement System’s Board of Administration on June 15 adopted a 2012 health care rate package with an overall annual premium increase of 4.1 percent for more than 1.3 million CalPERS members.
All CalPERS retirees are invited to participate in CalPERS Ambassador Program at the El Dorado Park Senior Center in Long Beach Sept. 27.
The volunteer Ambassadors will receive education, training and communications so they can better understand, and in turn better communicate, the facts about their retirement benefits. Ambassadors will come together for an initial training and then receive timely facts and outreach ideas via e-mail.
Republican lawmakers are prepared to let voters decide whether to close California's stubborn budget deficit with higher taxes in exchange for major changes in state spending, public pensions and regulatory policies.
Wall Street Journal, May 19, 2011
The nation's biggest pension fund is on target to notch one of its strongest annual returns in the past 20 years, performance that is helping the fund regain its health and its confidence.
But state residents still are being stung by the California Public Employees' Retirement System's funding gap, showing the deep hole into which many pension funds have dug themselves.
The state's annual contribution to CalPERS will fall slightly in the upcoming fiscal year, the pension fund announced today.
CalPERS said the state's contribution in the new fiscal year will hit $3.51 billion. That compares with $3.68 billion in the current year. [Read More...]
State revenue has rocketed to a projected $6.6 billion beyond expectations, a windfall that Gov. Jerry Brown wants to use to stabilize education spending and help repair California's battered finances.
In the revised budget plan that Brown released Monday, schools would receive about $3 billion that would otherwise have been deferred, aiding districts' ability to plan the academic year. The proposal also devotes some of the unanticipated money to business tax credits and to delaying a portion of the tax increases the governor had sought earlier this year. [Read More...]
More than a thousand teachers, state workers and others fanned out across the south lawn of the Capitol on Friday to pressure Republican lawmakers to extend expiring taxes to avoid further budget cuts.
The event capped a week of demonstrations by the California Teachers Assn., whose members lobbied lawmakers, staged rallies and, on two occasions, got arrested for refusing to leave the Capitol after the building closed. On Friday, David Sanchez, the union’s president, said that his arrest -– and those of 25 others –- brought attention to the cause of public education. [Read More...]
Battle lines sharpened Thursday over California's public pensions with the release of a new report that concludes pay and benefit packages for public workers are better than those for their counterparts in the private sector.
Commissioned by pension overhaul advocates poised to seek changes, the report drew immediate fire from public employee unions, which have muscled up to fight the emerging pension wars. [Read More...]