The city of Cerritos may be a trailblazer of sorts among local governments, but it’s leading the way on a trail that local governments probably don’t want to follow. The southern California community, which boasts a population just shy of 50,000 residents, is among the first of several city governments in California to go to the mat against the state controller’s review of its shift of local assets from the redevelopment agency.
CalPERS' headquarters in Sacramento. (Photo: Coolcaesar/en.wikipedia)A new study shows CalPERS members are living longer. It’s the first step in a review of workforce changes and investment polices that could lead to higher contribution rates for employers and possibly employees. (Photo: coolcaesar, en.wikipedia)
Across California, some six dozen community college districts – locally administering 112 schools, the largest higher education institution in the country – were scrambling for $90 million.
As it turns out, the federal Patient Protection and Affordable Care Act (ACA), known popularly as “Obamacare,” could be a boon to the California budget. Given how the ACA is structured, the state could end up spending less on an unlikely source – prison inmates. The ACA is designed to expand healthcare coverage to low-income
Local transportation officials across California are not happy: The feds, weighing in on a public pension dispute, are holding back billions of dollars. That means trains may not run on time, buses may not get bought or fixed and projects may not get built. And that could translate into a lot of unhappy passengers.
CalPERS last week gave some 1,575 local governments a small increase in their annual pension costs, one of the last rates kept low by unusual actuarial policies adopted after a $100 billion investment loss five years ago.
As a slowly improving economy bolsters government budgets, CalPERS is considering changes in investment and actuarial policies
California businesses and the public at large are beginning to reap the substantial rewards of our state’s landmark clean air and energy policies. Unfortunately, this progress is in significant jeopardy thanks to the oil industry and other dirty energy companies that continue to do everything possible to undermine these laws. It is important to remember
Los Angeles has the best-funded retiree health care among the nation’s big cities, a new study found, and it’s also paying a big price for a policy praised by many but practiced by only a few.
The city’s rare attempt to set aside money now to pay for retiree health care promised in the
Saying California was “back” and “on the move,” a chipper Gov. Jerry Brown urged lawmakers in his annual State of the State speech to streamline funding for schools, focus on implementing federal health care reform and keep a tight rein on spending so the budget stays balanced.
The Democratic governor said Thursday that he
More money for the underfunded California State Teachers Retirement System may be considered by the Legislature next year, thanks to new attention from lawmakers and a state budget deficit narrowed by a voter-approved tax increase this month.
After years of ignoring pleas for a rate hike, the Legislature approved a resolution last August, SCR