Articles Tagged With ‘California Public Employees Retirement System (CALPERS)’


The California Public Employees’ Retirement System is an agency in the California executive branch that “manages pension and health benefits for more than 1.6 million California public employees, retirees, and their families”.

https://www.calpers.ca.gov/

 



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Five Cities Fire Authority chief accused of retaliation and labor violations

A former Five Cities Fire Authority firefighter accused the fire chief of retaliation and violations of labor laws in a lawsuit filed in July against the fire authority, the city of Arroyo Grande, and chief Steve Lieberman. The lawsuit alleges... (Continue reading)

Cuesta College in deficit spending, union pushing raises

While the Cuesta College Board of Trustees is looking at strategies to offset a $551,000 budget deficit, the faculty union is pushing for higher pay. [Cal Coast Times] Lower enrollment coupled with increased unfunded pension liabilities have led to the... (Continue reading)

CalPERS move leaves SLO with multi-million dollar shortfalls

Following the California Public Employee Retirement System’s (CalPERS) recent decision to lower its investment forecasts, the city of San Luis Obispo is facing skyrocketing pensions costs. As result, also because of slowing tax revenue growth, the city is facing a... (Continue reading)

California school districts facing cuts due to pension costs

California school districts will soon divert billions of dollars from classrooms in order to backfill pensions, education officials say. The skyrocketing pensions costs are expected to eat up much of California’s increased spending on education. [SF Chronicle] The school district... (Continue reading)

CalPERS lowers investment forecasts, liabilities to increase

By JOSH FRIEDMAN The California Public Employees Retirement System (CalPERS) has decided to lower its discount rate from 7.5 percent to 7.0 percent, which will cause pension costs to rise for state and local government agencies. CalPERS’s discount rate is... (Continue reading)

Arroyo Grande to rehire interim city manager at lower cost

Arroyo Grande is again planning on rehiring Robert McFall to serve as interim city manager, and by chance, the city is expected to save some money. Earlier this month, the council approved an employment agreement with McFall, but complications stemming... (Continue reading)

Arroyo Grande’s rehire of interim city manager in question

Arroyo Grande City Council’s plans to hire Robert McFall to serve as interim city manager were dismantled shortly after the council voted last week to approve his contract. It is currently unclear whether McFall will go back to work for... (Continue reading)

CalPERS investment returns fall below 1 percent

CalPERS earned a return on its investments of just .6 percent in the last fiscal year, marking the state retirement fund’s worst performance since 2009. The pension system must average a yearly return of at least 7.5 percent to meet... (Continue reading)

Cambria manager gets raise despite financial discrepancies

Editor’s Note: The CalPERS audit is at the bottom of the article. By JOSH FRIEDMAN A series of financial blunders committed by the Cambria Community Services District have surfaced over the past year, including in a recent audit that discovered... (Continue reading)

Former CalPERS CEO gets prison time for bribery

The former CEO of the California Public Employees’ Retirement System (CalPERS) has received a 4.5-year prison sentence. Federico Buenrostro accepted more than $200,000 in bribes and tried to direct investments to an associate, who later committed suicide. [Wall Street Journal]... (Continue reading)



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