Posts Tagged: adjustment
Motorists in Oceanside drive through flooded streets after the arrival of a tropical storm.(Photo: DBSOCAL, via Shutterrstock)
OPINION: From mudslides to droughts, fires to earthquakes, natural disasters are an inexorable part of our way of life. Needless to say, the cost of these disasters is staggering. In 2018 alone, wildfires in our state accounted for nearly a quarter of all insurance company disaster claims nationwide.
The photo gallery in the main entrance of CalSTRS' West Sacramento headquarters. (Photo: CalSTRS)
The main California State Teachers’ Retirement System pension fund is seriously underfunded, and school district pension costs are more than doubling, biting deep into classroom budgets. But the agency, called CalSTRS for short, has an inflation-protection fund with a growing $9.8 billion surplus and an eye-popping positive cash flow.
OPINION: Senate Bill 3, authored by State Senator Mark Leno (D-San Francisco), would enact an unwarranted additional hike in the state’s minimum wage, similar to his measure earlier this year, SB 935, which was a California Chamber of Commerce “Job Killer”. California’s minimum wage was just raised $1 to $9 per hour on July 1 of this year, well above the current $7.25 per hour mandated under federal law.
Moves may allow bankrupt city to avoid pension fight