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California government retirement plans are more than 50% underfunded

California government retirement plans are more than 50% underfunded

. By David Schwartzman California is failing its employees and its citizens. Documents show that the state and local governments in California do not have enough money saved up to pay for the retirement of its current employees. The California Public Employees’ Retirement System (CalPERS) is facing future insolvency. These findings come from the 2015 CalPERS […]

Unaddressed Problems That Threaten Your Quality Of Life In Ventura

Unaddressed Problems That Threaten Your Quality Of Life In Ventura

VREG’s State Of The City No doubt that Ventura is a magnificent place to call home. On many aspects, VREG agrees on more points with our Mayor and City Council, than disagree. Ventura’s citizens are proud of our fine police force and our fire department. Our city employees are a dedicated group of men and […]

Neglecting the Pension Crisis Doesn’t Make It Disappear

Neglecting the Pension Crisis Doesn’t Make It Disappear

NEGLECTING THE PENSION CRISIS DOESN’T MAKE IT DISAPPEAR For eight years Ventura has done little to remedy the unfunded pension liability. During that time, there have been three different City Councils. Yet they made only a modest effort to solve the problem. They got employees to agree to contribute toward their own retirement. Meanwhile, those […]

State Controller Yee Updates: State Retiree Health Care Liability

State Controller Yee Updates:  State Retiree Health Care Liability

Applauds Significant Steps to Prefund Obligation The state’s cost for retiree health and dental benefits has grown to $76.68 billion, according to a report published today by State Controller Betty T. Yee. The liability represents the present-day cost to provide retiree health and dental benefits earned as of June 30, 2016 – one of the […]

Governor’s Signature Protects Retirees

Governor’s Signature Protects Retirees

AB 241 requires, under certain conditions, a local public entity to provide the name and mailing address of each retired employee to an organization that is incorporated and qualified under specific state and federal laws for the purpose of representing retired public employees during a bankruptcy proceeding. When the City of Stockton filed for bankruptcy, […]

Actuaries: Real CalPERS Unfunded Liability is $946 Billion—When Will it Collapse?

Actuaries: Real CalPERS Unfunded Liability is $946 Billion—When Will it Collapse?

   

How Government Unions Are Destroying California

How Government Unions Are Destroying California

Drug prices latest CA ballot battle

Drug prices latest CA ballot battle

CalPERS Set to Have MASSIVE Increase—Cities Forced to Raise Taxes/Cut Services

CalPERS Set to Have MASSIVE Increase—Cities Forced to Raise Taxes/Cut Services

  By Stephen Frank For years CalPERS has been lying about the return on investment. For many years they claimed it was 7.75%–regardless of how low the returns were. Then, when the outrage got too much, they claimed it was 7.5%. Now, once again caught lying, it is officially, 6.5%–regardless of the facts. Actually, every […]

Average full-career CalPERS pension worth 20% more than average Californian’s salary

Average full-career CalPERS pension worth 20% more than average Californian’s salary
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