The city manager of once-bankrupt Vallejo expects soaring police pension costs to reach 98 percent of pay in a decade. Lodi employees dropped from 490 to 390 in the last decade. And Oroville, after cutting a third of its staff, ...
Author Ed Mendel
A worried Herald Fire Protection District board discussed the possibility last week that the fee for leaving CalPERS may be around $400,000, an amount some members fear could push the small district in southern Sacramento County into bankruptcy. Earlier this ...
CalPERS is a leader in forming a first-ever global alliance of large investors that would use its combined shareholder clout to engage companies with the most carbon emissions, believed by scientists to contribute to climate change. The CalPERS board was ...
The University of California began internal borrowing to pay pension costs six years ago, apparently becoming the model for a state $6 billion loan this year to pay down CalPERS state worker pension debt. Now UC may inspire others to ...
It’s time to bring in some “Mad Men,” like those vintage Madison Avenue advertising professionals in the critically acclaimed television show, and run the name of a new state retirement savings plan up the flagpole and see who salutes. The ...
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 ...
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 ...
