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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 […]

Port of Hueneme takes charge and sets course for fully funding retiree health benefits

Port of Hueneme takes charge and sets course for fully funding retiree health benefits

 While public agencies struggle to meet budget demands, the Port of Hueneme is taking bold steps today, towards fully funding employee retirement benefits for the future.   The Port is adding a pre-funding element to their financial plan for Other Public Employee Benefits (OPEB) costs. OPEB consists largely of health care premiums for retired employees. […]

4 longtime Cal Lutheran professors retire — Sigmar Schwarz began teaching English in 1970

4 longtime Cal Lutheran professors retire — Sigmar Schwarz began teaching English in 1970

Four professors with a combined total of 150 years of service to California Lutheran University are retiring in May. The Board of Regents awarded emeritus status to associate professor of accounting Carol Coman, management professor Charles Maxey, languages and cultures professor Karen Renick and English professor Sigmar Schwarz. Schwarz was the earliest to arrive at […]

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 […]

County thinks “Public” means “Public Employee”

County thinks “Public” means “Public Employee”

    Pathetic Attempt to Pack the VCERA Board For most of us in the taxpaying private sector, when we think of the “public”, it is probably a near certainty that most of us are not thinking of someone who is a government employee. Not so it seems when it comes to the County of Ventura.  […]

Gold Coast Transit District’s Robert Lurie, Director of Fleet and Facilities, retires after 35 years

Gold Coast Transit District’s Robert Lurie, Director of Fleet and Facilities, retires after 35 years

After nearly 35 years of dedicated service, Gold Coast Transit District’s Robert Lurie, Director of Fleet and Facilities has retired. Lurie joined GCTD (then known as SCAT) in March of 1982 as a mechanic and by 1986 he was promoted to the position of Maintenance Supervisor where he excelled for over a decade. In 1999, […]

Assembly approves bill establishing state-run retirement accounts for all

Assembly approves bill establishing state-run retirement accounts for all

A savings-for-all plan passed the Assembly on Thursday that, if signed into law, will automatically enroll many employees into a state-run individual retirement system. Secure Choice, if implemented, would require employers of five or more people to automatically enroll employees into portable retirement accounts, with an opt-out clause for the individual. Proponents of the measure […]

Lawmakers take step toward retirement fund for all Californians

Lawmakers take step toward retirement fund for all Californians

. State policy makers on Monday inched closer to a state-run retirement system for workers who don’t have access to employer-run accounts. Secure Choice, if implemented, would require employers of five or more people to automatically enroll employees into portable retirement accounts, with an opt-out clause for the individual. While everyone has the ability to […]

Port Hueneme townhall: residents provide City Manager hiring criteria

Port Hueneme townhall: residents provide City Manager hiring criteria

By George Miller On Tuesday night, 3-29-016, the City of Port Hueneme held a townhall session for residents to present their ideas for what they want in a new City Manager. Recruiter Bill Avery has already talked to Council members about this. He and they are wisely consulting residents for their input as well. Former City Manager […]

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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