Articles Tagged With ‘pensions’




Page 1 of 212

CalPERS move leaves SLO with multi-million dollar shortfalls

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,... (Continue reading)

California school districts facing cuts due to pension costs

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.... (Continue reading)

CalPERS lowers investment forecasts, liabilities to increase

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... (Continue reading)

CalPERS investment returns fall below 1 percent

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... (Continue reading)

Former CalPERS CEO gets prison time for bribery

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... (Continue reading)

California has a surplus, but retirement liabilities remain

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.... (Continue reading)

Corrupt ex-CalPERS official commits suicide

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... (Continue reading)

Grover Beach police chief to double-dip into taxpayer funds

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... (Continue reading)

SLO County’s six-figure pension club

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... (Continue reading)

Will SLO issue a pension obligation bond?

By JOSH FRIEDMAN Chances are growing that the city of San Luis Obispo will issue a pension obligation bond to gain control of its unfunded retirement plan liabilities, which have soared past $100 million. The... (Continue reading)



Page 1 of 212