Articles Tagged With ‘Pension reform’

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)

CalPERS will reveal pensioners’ pay

In a few more days, California’s gargantuan public retirement system will be an open book — or database — when CalPERS unveils information on individual retirees’ pensions and benefits. (Sacramento Bee) Elements considered public information includes pensioners’ names; their monthly... (Continue reading)

Legislatures breaking the backs of California businesses

OPINION By JOE SCHIMANDLE CPA I was not aware of Senate Bill 1234 until after it was passed in Sacramento and was signed by the Governor. So after becoming aware of it, I just spent some time reading the entire... (Continue reading)

City pensions worry Central Coast taxpayers

Sustainability of city finances has become a growing concern of late in California. Director or Research of the Davenport Institute at Pepperdine University Dr. Steven Frates spoke to San Luis Obispo property and business owners Wednesday on the state of... (Continue reading)

Public pension reform bill inked

Gov. Jerry Brown Tuesday called the state’s public pension system “a big ship” which is slowly being turned in the right direction by reform legislation he’s set to sign. (Sacramento Bee) But faced with complaints that the pension reduction bill... (Continue reading)

Pols ponder private pension plan

A controversial measure establishing this country’s first state-run retirement system for private-sector employees ran into a buzz saw of opposition Wednesday in its first test in the California Assembly. (San Francisco Chronicle) Financial service, insurance and business groups weighed in... (Continue reading)

Public pension reform gaining traction

By DANIEL BLACKBURN As a subject of general discussion, California’s skyrocketing public pension situation has come a long way in a very short time, one of the state’s leading authorities on the subject said Thursday. Marcia Fritz, president of the... (Continue reading)

State pension reform envisioned

Public employees’ pensions will be reformed by the legislature before the next state budget is adopted, Senate President Pro Tempore Darrell Steinberg predicted today. [Sacramento Bee] “We are committed to getting pension reform done,” said the Upper House leader, downplaying... (Continue reading)

Gov. Brown’s pension reform plans

Gov. Jerry Brown has provided the language for his 12-point pension reform plan to the Legislature’s Conference Committee on Public Employee Pensions. [SacramentoBee] Before the governor’s plan can be placed on the Nov. 6 ballot, a two-thirds majority vote of... (Continue reading)

Study lists California pensions’ shortfall at $500 billion

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)