Posts Tagged: projected

San Bernardino eyes cuts of police retirees’ pensions

San Bernardino police officers, members of the SWAT team. (Photo: Juno Kughler Carlson, omnitrans.org) omnitrans.org

by ED MENDEL posted 12.29.2015

San Bernardino’s plan to exit bankruptcy, possibly next year, cuts the pensions of 23 retired police officers who receive an unusual supplement to their regular CalPERS pension. The supplement boosts pensions to the same amount now common among police and firefighters, a standard set by the Highway Patrol in a CalPERS-sponsored bill, SB 400 in 1999.

Brown budget eyes full funding for teachers’ pensions

Lobby of the CalSTRS building in West Sacramento. (Photo: Paul Houseberg)

by ED MENDEL posted 05.16.2014

Gov. Brown has made a long-delayed proposal to get CalSTRS to full funding over the next three decades, giving the biggest rate hike to schools and smaller increases to the state and teachers. The nation’s largest teacher pension fund, which received $5.8 billion from the three sources last fiscal year, needs an additional contribution of about $4.2 billion a year to project full funding in 30 years.