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Articles Tagged With ‘pensions’




Cuesta College in deficit spending, union pushing raises

Written on 11 Feb, 2018 in Daily Briefs | 24 comments

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

Written on 1 Mar, 2017 in Daily Briefs, Featured | 36 comments

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

Written on 23 Jan, 2017 in Daily Briefs, Featured | 44 comments

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

Written on 22 Dec, 2016 in Daily Briefs, Featured | 9 comments

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)

CalPERS investment returns fall below 1 percent

Written on 25 Jul, 2016 in Daily Briefs, Featured | 24 comments

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)

Former CalPERS CEO gets prison time for bribery

Written on 1 Jun, 2016 in Daily Briefs, Featured | 23 comments

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)

California has a surplus, but retirement liabilities remain

Written on 19 Jan, 2016 in Daily Briefs, Featured | 28 comments

A few years after California faced a $26 billion deficit, lawmakers are debating how to spend a budget surplus. However, state officials have not tackled California’s unfunded pension liabilities problem, which is continuing to grow. [Contra Costa Times] The state... (Continue reading)

Corrupt ex-CalPERS official commits suicide

Written on 2 Feb, 2015 in Daily Briefs, Featured | 22 comments

A former CalPERS board member facing a corruption trial in federal court committed suicide in January. [LA Times] Alfred Villalobos, 71, killed himself in Reno, his town of residence, city police confirmed. Villalobos was just weeks away from standing trial... (Continue reading)

Grover Beach police chief to double-dip into taxpayer funds

Written on 17 Dec, 2014 in Daily Briefs, Featured | 27 comments

Grover Beach Police Chief Jim Copsey will soon receive a salary and pension simultaneously following a decision by the city council to employ him as interim chief after he retires later this month. Copsey is set to retire on Dec.... (Continue reading)

SLO County’s six-figure pension club

Written on 3 Dec, 2014 in Featured, Uncovered SLO | 37 comments

By JOSH FRIEDMAN The number of retired public employees in San Luis Obispo County who are receiving yearly pensions of more than $100,000 continues to grow along with the more $500 million in unfunded pension liability. The highest earning pensioner... (Continue reading)