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”.
California’s three largest pension systems are on the hook for $500 billion beyond their current ability to pay retirees, according to a study released Tuesday by Stanford University Professor and former Democratic Assemblyman Joe Nation and a student researcher. [SacramentoBee]... (Continue reading)
During a time of stagnant professor salaries, laid off lecturers, and increasing student tuition and fees, some California Polytechnic State University administrator compensations are increasing through raises, double dipping and moonlighting. Former Cal Poly president Warren Baker is taking home about... (Continue reading)
UPDATE: Public Relations spokesperson Stacia Momburg said the university is denying Provost Robert Koob said the university is working to privatize. In addition, she said he did not say they plan to have students teach classes as part of the... (Continue reading)
A higher retirement age and a less benevolent pension system await new state workers in the future if a plan to be unveiled Thursday by Gov. Jerry Brown succeeds. Brown also will be targeting the purchase by current state employees... (Continue reading)
Officials with the League of California Cities are offering a new pension reform plan for struggling California towns, proposing a “detailed legal review”of whether pensions promised current workers can be reduced. [Calpensions] “Pension sustainability cannot be fully achieved without addressing... (Continue reading)
An $11 million bill for legal fees associated with an internal review of the California Public Employee’s Retirement System (CalPERS) is drawing criticism. LATIMES CalPERS, the nation’s largest public pension fund which oversees $232 billion, paid a Washington, D.C. law... (Continue reading)
California is slated to save $170 million in pension fund payments mostly because new union contracts shift some of the costs to state worker. [MercuryNews] New agreements with unions have boosted employee contributions by anywhere from two percent to five... (Continue reading)
By ROXANNE CARR All approved CalPERS (California Public Employees’ Retirement System) lenders were notified recently that the home mortgage financing program had been suspended. Through the CalPERS program, active, inactive, or retired members of the California Public Employees’ Retirement system... (Continue reading)
CalPERS staff has recommended a small change in investment projections that is likely to cost California $200 million or more. [MercuryNews] The California Public Employees’ Retirement System Board had estimated that the pension fund’s investments would make 7.75 percent interest... (Continue reading)
By KAREN VELIE San Luis Obispo city officials have confirmed that a workers compensation claim based on presumptive causes was filed on behalf of former Fire Chief John Callahan that is slated to cost the taxpayers about $7,000 per month.... (Continue reading)
Reporter Karen Velie, (805) 234-1703
Reporter Ben Di Gugliemo
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