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CalPERS critic makes runoff for CalPERS board

CalPERS critic makes runoff for CalPERS board

by Chris Reed The underfunded California Public Employees’ Retirement System faces daunting challenges in coming years, with local governments increasingly vocal about not being able to afford the ever-growing cost of their CalPERS-managed pension programs, as CalWatchdog reported July 20. The nation’s largest public pension fund could face these challenges with a board that appears both solidly […]

Next CalPERS Victim—Simi Valley, My Hometown

Next CalPERS Victim—Simi Valley, My Hometown

  . By Stephen Frank, Exclusive to the California Political News and Views In April the people of Simi Valley were told we had a Triple AAA rating and our finances were never better.  Now the cops can not get a pay raise for four years and the city has created a Commission to decide on […]

CalPERS’ divestment goals in crosshairs as coal stocks soar

CalPERS’ divestment goals in crosshairs as coal stocks soar

by Steven Greenhut A newly released report from the California Public Employees’ Retirement System confirms that, fulfilling the Legislature’s directive to divest from coal-related investments, the pension fund has now largely exited from coal stocks. But as news reports this week suggest, this “socially responsible” investment policy has come at a price, as coal stocks soar under the […]

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
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