Articles Tagged With ‘Pension’

Employee costs and pension liabilities accelerating in SLO

By JOSH FRIEDMAN The city of San Luis Obispo’s unfunded pension liabilities have risen to $126 million, more than the rest of the cities in SLO County combined. After the bottom fell out of the housing market, the majority of... (Continue reading)

Pismo Beach pays $1 million to reduce pension liability

Pismo Beach City Council voted unanimously on Tuesday to approve a $1 million payment to reduce the city’s unfunded pension liability costs. Currently, the city has an unfunded pension liability of $13.6 million. This includes $6.3 million in the safety... (Continue reading)

Pension reform eludes lawmakers again

With a cynical finish to its legislative season, the state Assembly Friday put the lid on efforts to reform public sector pensions by declaring its “intent” to take the matter up next year. [SacramentoBee] A trumpeted objective in January, pension... (Continue reading)

Retired educators receive more than $100,000 annually

As public pension reform takes center stage in Sacramento, the number of newly retired school administrators earning more than $100,000 a year jumped 650 percent between 2005 and 2011. [Sacramento Bee] Six-figure payouts to retired educators increased from 700 to... (Continue reading)

California cuts $170 million from pension costs

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)

Hey, when I said tax the rich, I didn’t mean the rest of us

OPINION by ROGER FREBERG When you look around the state to see if anyone, anywhere is doing anything to save our counties and cities; you really don’t see a captain at the helm trying to avoid those big icebergs. I... (Continue reading)

Californians back public-employee pension reform

A majority of California voters support capping pensions and a later retirement age for current and future public employees to balance the state’s budget, according to a poll by the University of Southern California. [LATimes] Seventy percent of respondents supported... (Continue reading)

California teachers’ pension fund $56 billion in the red

CalSTRS, the nation’s largest teachers’ retirement fund, said on Thursday that its unfunded liabilities grew to $56 billion in the fiscal year that ended in June, an increase of $15.5 billion. [SacramentoBee] The gap between the fund’s assets and its... (Continue reading)

California lawmakers pounce on the messenger

California lawmakers on Wednesday reacted skeptically to a new proposal to lower public employee pensions throughout state and local government. [SacramentoBee] Stuart Drown, the executive director of the Commission on California State Government Organization and Economy, known as the Little... (Continue reading)

Morro Bay sucked into City of Bell scandal

Taxpayers in Morro Bay are about to find out they’re on the hook for the pension bills of disgraced public officials in a city more than two hundred miles away. [LA Times] A public firestorm erupted earlier this summer in... (Continue reading)