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. [Read More...]
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. [Read More...]
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...]
With Wisconsin convulsed by unrest over a bill to curb public employee unions, a similar measure is steaming toward passage in Ohio, a bigger labor stronghold with a vital role as a political battleground. [Read More...]
In a victory for all public retirees, the California Supreme Court on April 13 refused to hear the County of Orange’s appeal seeking to reverse retroactive pension increases given to retired Orange County sheriffs’ deputies.
The refusal to hear the case means the decision made earlier this year by the
2nd District Court of Appeal in Los Angeles stands. That court ruled the 2001 labor agreement retroactively giving Orange County deputies a 3 percent at age 50 formula for retirement is valid and does not violate the provisions of the California Constitution. [Read More...]
All working and retired members of the California Public Employees’ Retirement System (CalPERS) and their guests are invited to a question-and-answer session with three CalPERS officials in Palm Desert Friday, May 6. [Read More...]
Republicans and pension busters have been whacking CalPERS like a pinata for the past year. But here's something they don't like to talk about: CalPERS is a huge job creator in California. And weakening it would be a major drag on the state's economy.
CalPERS has invested more than $17 billion in California-based companies, properties and projects, helping to generate nearly one million jobs throughout the State, the California Public Employees' Retirement System (CalPERS) Investment Committee was told on Monday. [Read More...]
When it comes to shaping the future of Social Security, Sen. Dianne Feinstein says "everything should be on the table," including gradually raising the retirement age.
Sen. Barbara Boxer takes a different view. She is co-sponsoring legislation that would require a two-thirds majority vote before Congress could proceed with any legislation that would reduce benefits, increase the retirement age or transition the program to private accounts. [Read More...]
As Brown launches a road trip in a quest for public support, some of his most ardent supporters are wondering if he’ll sell his budget plans by moving to the right – too far to the right.
The issue arises after the Democratic governor proposed changes in the public pension system, including many that have been demanded by Republicans or already contained in GOP-authored legislation. Some were presented as ideas, worded vaguely and signaling a starting point for negotiations.
Dear CalPERS Members, Employers and Stakeholders,
CalPERS recently took bold action and made public a report that chronicles in sobering detail the alleged wrongdoings of its former Chief Executive Officer and several former Board Members. [Read More...]
It is not possible to explain or excuse the chronicled actions of these former officials and we will make no attempt to do so. I am truly sorry that our members and the taxpayers who support the incredibly important work of every public servant have been placed in a position where they might question the integrity of this organization.
Published Friday, Apr. 08, 2011
Executives from the Area 4 Agency on Aging – which funnels more than $6 million in federal grants each year to a host of seniors' nutrition, health and social programs in a seven-county area including Sacramento – warned elder advocates this week to expect significant funding reductions to programs for older adults.
"We're entering the great unknown," said Area 4 Agency on Aging executive director Deanna Lea. "We need a disaster plan, just in case."
Published Friday, Apr. 08, 2011
With the budget stuck in neutral, Gov. Jerry Brown and lawmakers are leaving Sacramento to bolster their case for and against taxes.
The dueling roadshows reflect the fact that the parties remain at loggerheads after talks broke down last week. Facing a remaining $15.4 billion deficit, Brown is still seeking an election on taxes.
Shaken by a report alleging wrongdoing by former top officials, directors of the California Public Employees' Retirement System voted to push for legislation curtailing gift-giving to public employees and limiting board members and executives from going to work for companies doing business with the pension fund. [Read More...]