Posts Tagged: losses
With 2020’s disasters in mind, the state is making elaborate plans to deal with an upcoming wildfire season made potentially more deadly by drought. The challenge is there, and it’s a big one.
OPINION: Californians can breathe a sigh of relief. When proponents of a 2016 ballot proposal to extend Proposition 30’s tax rates on wealthy Californians amended their measure this week, they did something that was both politically smart and fiscally sound: They eliminated a provision the governor a few days ago called the measure’s “fatal flaw”, that would have exempted this proposed new revenue from the state’s Rainy Day Fund.
Calpensions: After the board was told last April that CalPERS could not track the incentive payments, known as “carried interest,” a wave of media criticism grew with stories in the New York Times late last month and Fortune magazine last week. A pension fraud investigator, Edward Siedle of Benchmark Financial Services, launched an Internet fund-raising campaign on Kickstarter to raise $750,000 for a “forensic investigation” of the California Public Employees Retirement System.
Calpensions: Three years ago CalPERS investment earnings hit bottom in a Wilshire consultants report that ranks the performance of big pension funds — dead last among its peers over the previous five years. Last week a new Wilshire report showed CalPERS investment earnings steadily climbing up the ranks, finishing in the top quarter of big pension funds during the last three years.
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