State Attorney General Xavier Becerra addresses reporters in Sacramento. (Photo: AP/Rich Pedroncelli)California Attorney General Xavier Becerra, who has filed 40-plus lawsuits against the Trump Administration, has been a darling of many California Democrats. Now he finds himself in a court fight against some of his admirers.
Eleni Kounalakis speaks to the Sacramento Press Club in August. (Photo: Associated Press/Steve Yeater)Eleni Kounalakis bristles at the suggestion that she won the election for California lieutenant governor because of her wealthy father’s support. It’s true that her father Angelo Tsakopoulos is a very rich land developer. But his mother couldn’t read or write and he spent his early years working in the fields after arriving in this country from Greece.
Sacramento police officers preparing for protests over the shooting of Stephon Clark. (Photo: Kevin Cortopassi, Flickr Creative Commons)The recent police killing of an unarmed black Sacramento man has left protesters and local politicians demanding revisions to California’s Peace Officer’s Bill of Rights — the decades-old protocol for officers facing disciplinary investigation. But state lawmakers, despite the national attention directed at the shooting of 22-year-old Stephon Clark, have not introduced legislation or even made reference to the 1976 law, known as the POBR.
The CalPERS headquarters in Sacramento. (Photo Shutterstock)A bill by state Sen. Steven Glazer, D-Orinda, giving new state workers the option new University of California workers received two years ago, a 401(k)-style plan rather than a pension, is opposed by unions and soon may be opposed by CalPERS. More than a third of eligible new UC employees have chosen a 401(k)-style plan. Instead of a guaranteed lifetime monthly pension check, the 401(k) plan that replaced pensions in most of the private sector uses individual tax-deferred investments to build a retirement fund.
Nurses and physicians in a busy hospital corridor. (Photo: Monkey Business Images)The California Nurses Association is still committed to pushing through its controversial universal health care bill despite stiff opposition from the Democratic Assembly Speaker and medical professional organizations. The union has a strong ally in front-runner gubernatorial candidate Gavin Newsom, who says that a single-payer system as proposed in Senate Bill 562 is the best way to provide health care to all.
CalPERS' governing board during a 2013 meeting. (Photo: CalPERS board)Two actuarial associations did not publish a controversial paper by their joint task force, reflecting a split in the profession over whether public pension debt should be measured with risk-free bonds or the earnings forecast for stock-laden investment funds.
A pension reform initiative filed last week requires voter approval of termination fees, the big upfront payment demanded by CalPERS when a plan is closed to new members. CalPERS says it needs the money to ensure payment of the pensions promised members who remain in the closed plan. The termination fee is calculated by dropping the pension fund earnings forecast from the current 7.5 percent to as low as 2.98 percent.
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.