Posts Tagged: pension

News

Judges’ pension contributions eyed

Payments seven judges make toward their pensions would be cut nearly in half by a bill approved last week in a Senate committee, despite a warning from the chairwoman of a “slippery slope” undermining the governor’s pension reform.

News

Hunting retirees’ hidden health care debt

Calpensions: In a new step to expose hidden debt, the Governmental Accounting Standards Board last week proposed that retiree health care debt or “unfunded liability” be reported on the face of government financial statements, not buried inside.

News

Public pension bill eyes ‘excess earnings’

Calpensions.com: The bill said to represent three years of talks mainly between the IRS and the Orange County system, the informal leader in the negotiations, moved out of the Assembly public employees retirement committee with no discussion.

News

Paying pension debt with bonds

An $8 million pension bond was approved last week by voters in Piedmont, a small well-to-do city completely surrounded by deep-in-debt Oakland, originator of the pension bond that has figured in the Stockton, San Bernardino and Detroit bankruptcies. (Photo: City of Fremont

Opinion

In pension debate, ‘eliminate’ is a word with big impact

The reason, Reed says, is that the Attorney General used the word “eliminate” in describing his proposal to end the vested benefit rights of public employees. “This is the only recourse we have to correct something that is inaccurate and misleading,” said Reed of the Attorney General’s description of his measure. But Reed has a problem: He and his allies used the same word he’s criticizing the Attorney General for using – “eliminate” – when detailing his ballot measure.

Opinion

An open letter to Gov. Brown

OPINION: Nearly a year has passed since the California State Teachers Retirement System (CalSTRS) asked you and the Legislature to address a pension deficit for which it seeks a 30-year $240 billion cash injection, starting with $4.5 billion per year.

News

LAO eyes pension initiative

A major public pension reform initiative got a mixed cost analysis last week from the nonpartisan Legislative Analyst’s Office. The measure would give state and local governments the option of cutting retirement benefits current workers earn in the future, while preserving benefits already earned through past service.

News

Stockton tussles with final creditor

U.S. Bankruptcy Judge Christopher Klein, ruling disclosure was adequate, gave Stockton permission to circulate the debt-cutting “plan of adjustment” to all creditors for a vote on Feb. 10. An objection from one creditor can force a trial.

Opinion

Right wing agog over SJ Mayor’s pension reform plan

OPINION: In mid-October, San Jose Mayor Chuck Reed announced he was taking steps to put a measure on the November 2014 ballot to give local politicians the power to break their promises to teachers, firefighters, police officers and other public employees to provide them with a secure retirement.

News

New accounting rules swell CalSTRS’ debt

The CalSTRS board was told last week that it’s unclear whether the new liability figure will be reported by the state or spread among school districts, where more than doubling current debt might lower credit ratings and drive up borrowing costs.

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