Posts Tagged: debt

Opinion

Historic budget: CA leads in library modernization. Will Feds follow?

A sign beckons library users with a compelling message. (Photo: Becky Ruppel, via California State Library)

OPINION: This year’s state budget contains an unprecedented investment in California’s public libraries. The $439 million earmarked by Gov. Newsom and the Legislature for renovating and modernizing local libraries will provide decades of ongoing benefits to millions of Californians and the communities in which they live. 

Opinion

Key advantages of a private nursing education

Nursing students at a university health care facility. (Photo: Africa Studio, via Shutterstock)

OPINION: Nursing is in my blood. My parents are both nurses. My sister, countless cousins and others in my family have all dedicated themselves to serving others through the noble profession of nursing. When I graduated high school, I briefly tried to outrun my destiny. I left Los Angeles to enroll at UC Merced, only to find that the call to nursing remained strong.

Opinion

Changes urged in new Consumer Privacy Act

An illustration of the concept of privacy and computer use. (Image: mstanley, via Shutterstock)

OPINION: I believe in the American Dream because I am lucky enough to be the American Dream. And I’m not alone; there are millions of business owners in California and I imagine some of them share my success story.

News

CalSTRS’ finances reflect debt — and surplus

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.

News

State pension systems: NY outperforms California

The CalPERS board of governors during a meeting at the pension system's headquarters. (Photo: CalPERS)

New York state pension systems are better funded than California state pension systems, currently take a smaller bite out of state and local government budgets, and still provide pension benefits well above the national average. How do they do it?

News

CalPERS makes debt, cost difficult to see

CalPERS' governing board during a 2013 meeting. (Photo: CalPERS board)

Calpensions: New annual CalPERS reports no longer prominently display the pension debt of local governments as a percentage of pay, making it more difficult for the public to easily see the full employer pension cost.

News

CalPERS acts to cut earnings forecast, raise rates

CalPERS' governing board during a 2013 meeting. (Photo: CalPERS board)

Calpensions: A key committee yesterday approved a drop in the often-criticized CalPERS investment earnings forecast, gradually raising record rates already being paid by state and local governments, if approved as expected by the full board today.

Opinion

Helping seniors keep a roof over their heads

An elderly couple in front of their home. (Photo: Andy Dean, via Shutterstock)

OPINION: By 2030, California’s over-65 population is expected to be 87 percent higher than it was in 2012 – an increase of more than four million people. According to a 2014 AARP survey, nearly 90 percent of senior households say they would like to stay in their current residences and communities for as long as possible.

News

Proposition 53: A battle over debt

Stockton businessman Dino Cortopassi, who is financing Proposition 53 on the Nov.8 ballot. (Photo: Scott Duncan, Capitol Weekly.)

He started out with $3,000 and a VW bug. Now, he’s a multimillionaire bankrolling a November ballot initiative to dramatically change the way the California borrows money for public works.

News

CA pensions’ tax bite exceeds national average

The CalPERS' governing board during a meeting several years ago at the pension fund's headquarters. (Photo: CalPERS board)

California pension funds take a bigger share of tax revenue than the national state average, a research website shows. Why the growing costs are outpacing the norm is not completely clear. A prime suspect for some would be overly generous pensions, particularly what critics say is an “unsustainable” increase for police and firefighters widely adopted to match a big increase given the Highway Patrol by SB 400 in 1999.

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