Articles Tagged With ‘Pension’

Taxpayers going postal over public employee pensions, perks

By PETER SCHEER—For public employee unions–those representing police, firefighters, teachers, prison guards and agency workers of all kinds at the state and local level–these are the worst of times. Despite record high membership and dues, and years of unparalleled clout... (Continue reading)

Brown targets CalPERS officials

California Attorney General Jerry Brown filed a lawsuit against two former officials of CalPERS, the nation’s largest public pension fund, for violating security laws. [Reuters] The complaint, announced Wednesday, focuses on former CalPERS chief executive Federico Buenrostro Jr. and former... (Continue reading)

California faces $325 billion in unfunded pension obligations

A top pension consultant warned Thursday that state and local governments currently face $325 billion in unfunded pension liabilities, amounting to $22,000 for every working adult in California. [Los Angeles Times] Consultant Girard Miller issued the warning before California’s Little... (Continue reading)

U.S. state pension funds face $1 trillion shortfall

A new report warns that U.S. states currently face a total shortfall of at least $1 trillion in their funds for employees’ pensions and retirement benefits. And the problem is rapidly worsening. [Reuters] The New York-based Pew Center released the... (Continue reading)

SLO County’s $100,000 plus pension club

By KAREN VELIE California's Public Employees’ Retirement System (CaLPERS) lost nearly $67 billion in the last 12 months prompting critics to question the steep pensons paid to some government retirees such as former Cal Poly administrator Robert Detweiler at $181,697 per... (Continue reading)

Market plunge darkens taxpayers’ pension obligation

By DANIEL BLACKBURN San Luis Obispo County taxpayers are looking down the black hole of a swelling, multi-million-dollar deficit of the county workers’ pension plan that poses a monumental problem with few real solutions, complicated by Monday’s record-breaking 500-point plummet of... (Continue reading)

SLO County pension plan bleeding; is it unbowed?

SECOND IN A SERIES By DANIEL BLACKBURN County supervisors soon will learn that its hemorrhaging employee pension plan may find partial redemption by buying into in a struggling investment marketplace. But the plan’s top executive said Tuesday he worries that a declining economy... (Continue reading)

One big cost that never goes down: public retirement benefits

While California’s housing market has been swirling down the drain, the state’s largest public retirement system has been enthusiastically investing hundreds of millions of dollars into a more promising real estate market… south of... (Continue reading)