CalPERS needs the high yields from private equity to help hit its long-term earnings target. But some firms have rejected or limited CalPERS investments, saying the big pension system has become unpredictable and difficult to work with. A quarter century ...
Author Ed Mendel
By Chris Reed. Last week’s announcement by the California Public Employees’ Retirement System that it had strong 11.2 percent returns on its investment portfolio in 2016-2017 after terrible returns the two preceding years prompted ebullience from the pension giant’s supporters. Sacramento Democratic ...
Retirees who receive federal Social Security in addition to their California state and local government pensions got mixed news last week. Social Security trustees project a 2.2 percent increase for recipients next year after little or no increase the last ...
CalPERS may soon report investment earnings for the fiscal year ending June 30 that are near or even above its long-term target of 7 percent, up from a return of 0.61 percent the previous year. But the nation’s largest public ...
A decade ago the San Francisco public pension system was known for being well-funded, winning good management awards, and going eight years with no annual payments from the city. The distinctive feature of the San Francisco system — requiring voter ...
The state Supreme Court agreed last December to hear an appellate court decision in a Marin County case allowing major cuts in public pensions — but not until the appeals court rules on a slow-moving consolidation of three similar county ...
If you don’t give city employees a pension, what happens? San Diegans voted five years ago this month to switch all new city hires, except police, from pensions to 401(k)-style individual investment plans, becoming one of the first big cities ...
CalPERS board member J.J. Jelincic, known for being reprimanded by fellow board members and asking frequent and detailed questions about agenda items, was expected to seek a third four-year term but decided not to run. A collective sigh of relief ...
Cities stuck on the pension escalator have few ways to slow the rapidly climbing cost, among them: cut staff and services, lower pensions for new hires, get unionized employees to pay more for their pensions, or cut salaries and hope ...
Swinging the blade for the third time, CalPERS may cut the pensions of five current and former employees of a water district serving the small town of Hayfork in Trinity County, a rugged area in the northwest part of the ...
