Posts Tagged ‘pensions’

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Will SLO issue a pension obligation bond?

By JOSH FRIEDMAN Chances are growing that the city of San Luis Obispo will issue a pension obligation bond to gain control of its unfunded retirement plan liabilities, which have soared past $100 million. The city currently has a total... (Continue reading)

California judges sue state, CalPERS for backpay

A group of California judges has filed a class action lawsuit against State Controller John Chiang and the California Public Employees Retirement System, claiming their salaries and benefits did not keep pace with those of other state workers as required... (Continue reading)

California judge rules public employees have vested rights to pensions

A California judge ruled Monday that employees of the city of San Jose have vested rights to their pension benefits. [Mercury News] Santa Clara County Superior Court Judge Patricia Lucas struck down part of a 2012 pension reform measure that... (Continue reading)

California public pension payouts doubled in recent span

The average monthly pension payout for new retirees in California’s primary public pension system doubled between 1992 and 2012. [Sacramento Bee] The average monthly payment for new retirees in the California Public Employees Retirement System (CalPERS) increased from approximately $1,500... (Continue reading)

CalPERS halts release of pension database

Two days after announcing its plan to unveil a public database containing pension information for all retirees in its system, the California Public Employees’ Retirement System chose to delay the creation of the database. [Sacramento Bee] CalPERS said Wednesday that... (Continue reading)

SLO considering a pension obligation bond

By JOSH FRIEDMAN The city of San Luis Obispo may turn to debt financing to address its growing pension liabilities. During a two-year budgeting meeting Monday, interim finance director Wayne Padilla said city management is considering recommending that the council... (Continue reading)

SLO pension liabilities skyrocketing

By JOSH FRIEDMAN In a span of ten years, the city of San Luis Obispo has gone from having no pension debt to becoming more than $100 million in the red in its retirement benefit plans. Between fiscal years 2001-2002... (Continue reading)

CHP chief was making nearly $500,000 before retiring

California Highway Patrol division chief Jeff Talbott retired last year making $483,581 in salary and benefits. [Bloomberg] Talbott, 53, retired as the highest paid officer in the 12 most-populous U.S. states, according to a Bloomberg investigation. Upon retirement, he began... (Continue reading)