Posts Tagged: CalPERS
A view across the river of the CalSTRS headquarters in West Sacramento. (Photo: ImageAllan, via Shutterstock)
OPINION: Here’s the best advice: To the more than 3 million retirees, teachers, firefighters, nurses, police officers and other state and local government employees who rely on the state’s two largest pension funds: Do not be alarmed. To the critics who periodically predict – always following downward swings in the stock market – that the pension funds will someday not be able to meet their obligations: Do not be alarmist.
The CalPERS' governing board during a meeting several years ago at the pension fund's headquarters. (Photo: CalPERS board)
OPINION: Like most public employees, I pursued a career in state service because I want to serve the people of this state and do my part to promote a safe, healthy, well educated, and just California. I was also attracted to the financial security and benefits available to public employees. Unfortunately, politicization of at the California Public Employees’ Retirement System (CalPERS) and California State Teachers’ Retirement System (CalSTRS) threatens these goals and makes me question whether my pension will be there for me when I retire in a few decades.
The headquarters of the California Public Employees' Retirement System in Sacramento. (Photo: Kit Leong, via Shutterstock)
OPINION: Those who think about CalPERS often limit their perspective to the context of pensions for public employees. But the reality is that every single person who wants to be able to get a job in a community with affordable housing, good schools, safe streets, and accessible public services needs CalPERS to be successful. Otherwise, we will all pay a steep price.
The CalPERS headquarters in Sacramento. (Photo: Kit Leong, via Shutterstock)
Once CalPERS could shrug off low funding and rising employer costs as just another downturn, staying the course in the long-term strategy of getting most of its money from market investments that go up and down. This time is different.
Employees in an open work space. (Photo: Monkey Business Images, via Shutterstock)
OPINION: I recently signed a letter with state Sen. Connie Leyva, chair of the Legislative Women’s Caucus, and six other prominent women in California calling on J.J.Jelincic Jr. to drop out of the race for the CalPERS board after his history of harassing women was revealed by the Sacramento Bee. It matters that three women at CalPERS felt so uncomfortable working with Jelincic that they filed harassment charges against him, and that their allegations were upheld by the California State Personnel Board.
The headquarters of the California Public Employees Retirement System in Sacramento. (Photo: Sabrina Clare)
OPINION: The U.S. health care system is in a moment of reckoning. No one pretends to have the perfect solution. But there is something consumers can agree on: More transparency is needed. Consumers and their employers, which insure 49 percent of American health coverage, are demanding to know exactly what goes in to their health care costs.
The CalPERS headquarters in Sacramento. (Photo: Kit Leong)
The annual payment to CalPERS for state worker pensions next fiscal year is expected to be $7 billion, a jump from $6.4 billion this year — and a quantum leap from $160 million when a pension increase, SB 400, was approved 20 years ago.
CalPERS' headquarters in Sacramento. (Photo: Kit Leong
OPINION: In Gov. Gavin Newsom’s recently released state budget he proposed to contribute an additional $3 billion to the CalPERS fund. This commitment is a prudent one that will help to ensure the long-term sustainability of the fund.
The California Supreme Court. Standing, from left: Justice Mariano-Florentino Cuéllar, Justice Carol A. Corrigan, Justice Goodwin H. Liu, and Justice Leondra R. Kruger. Seated, from left: Justice Kathryn M. Werdegar (Retired August 31, 2017), Chief Justice Tani G. Cantil-Sakauye, and Justice Ming W. Chin. (Photo: State Supreme Court)
The state Supreme Court, with four similar cases on the backburner, gave few signs during recent oral arguments on a labor-union challenge to Gov. Brown’s pension reform that it’s ready to take on the “California Rule” preventing pension cuts.
A photo illustration of putting money aside as the clock ticks. (Image: Cozine, via Shutterstock)
OPINION: Another round of alarmist commentary is being spread by those who begrudge a secure retirement for those who teach in our classrooms or heroically labor on the front lines of wildfires. Amidst their negativity Californians may have missed a bit of positive news last month. The state’s two largest pension funds reported end-of-year investment returns that again exceeded their assumed average annual rate of return.