Posts Tagged: 2007
A liquid nitrogen bank containing a suspension of stem cells. (Photo: Elena Pavlovich)
If you are interested in how the state of California is going to spend its final $800 million or so on stem cell research, you should catch a key meeting next Tuesday in Oakland, which also can be heard online. The session involves the 29-member, governing board of the $3 billion California Institute for Regenerative Medicine (CIRM), as the state stem cell agency is formally known.
Prescription drugs displayed across a counter top. (Photo: Motorolka, via Shutterstock)
FairWarning: When the Republican-controlled Congress approved a landmark program in 2003 to help seniors buy prescription drugs, it slapped on an unusual restriction: The federal government was barred from negotiating cheaper prices for those medicines. Instead, the job of holding down costs was outsourced to the insurance companies delivering the subsidized new coverage, known as Medicare Part D.
Two senior women exercising at a health club. (Photo: Karel Hoppe)
A U.S. Supreme Court ruling in January weakens the “vested rights” protection of retiree health care based on a labor contract, potentially making it easier for government employers to cut a growing cost. The high court overturned an influential federal appeals court ruling that said retiree health care authorized by a short-term labor contract is presumed to be a lifetime benefit, unless the contract has clear language to the contrary.
The CalSTRS board was told this month that financial experts are forecasting investment earnings of 7 percent a year or less during the next decade, below the 7.5 percent assumed by the pension fund. If that’s correct, long-sought legislation in June that phases in a $5 billion CalSTRS rate increase over the next seven years could fall short of the goal of projecting full funding in three decades.
FIELD POLL: According to The Field Poll’s annual assessment of the economic well-being of Californians, 44% of registered voters now report that they are financially better off than they were last year, while 28% are worse off. Another 28% say there has been no change. This is the first time in seven years that more California voters have reported being financially better off than worse off compared to the prior year.