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.
CalPERS' governing board during a 2013 meeting. (Photo: CalPERS board)Calpensions: The state’s two largest public pension systems never recovered from huge investment losses during the deep recession and stock market crash in 2008. CalPERS lost about $100 billion and CalSTRS about $68 billion. Now after a lengthy bull market, most experts are predicting a decade of weak investment returns, well below the annual average.
Kathy Kneer, president and CEO of California Planned Parenthood. (Photos: Planned Parenthood)Capitol Weekly Interview: Kathy Kneer is the president and CEO of California Planned Parenthood. CW’s Alex Matthews caught up with Kathy recently for a detailed discussion that included health care, family planning, meeting the needs of low-income Californians and the challenges of the Affordable Care Act.
The CalPERS' governing board during a meeting several years ago at the pension fund's headquarters. (Photo: CalPERS board)Calpensions: Twice in recent decades CalPERS fell below 100 percent of the funding needed for promised pensions, and twice CalPERS climbed back. But since a $100 billion investment loss in 2008, the CalPERS funding level has not recovered.
Former San Jose Mayor Chuck Reed and current Atlanta Mayor Kasim Reed have more in common than their last names. Both have the same broad pension story. But last week, Atlanta had a very different ending.
Students in a classroom get instruction from a teacher. (Photo: Areipa.It, Shutterstock) Because the system is underfunded, the CalSTRS board has made no inflation adjustment in the death benefit since 2002. The board was told that it could have increased the death benefit by about 34.7 percent during the period.
A state review of a dental program that serves low-income Californians shows that significantly fewer dentists are accepting those patients, despite a surge in demand. According to the California Department of Health Care Services report, released July 1, the number of dentists accepting Medi-Cal patients fell by 14.5 percent between 2008 and 2013. That’s a loss of 1,354 providers for the Denti-Cal program, which is the dental portion of Medi-Cal.
Demonstrators seeking more funding for health care coverage gathered recently at the state Capitol. Inside, the Senate voted to expand coverage to undocumented choldren. (Photo: Alvin Chen, Capitol Weekly)Hoping to fill a “billion-dollar hole,” lawmakers were poised to gather in a special session to figure out new sources of funding for the state’s complex health care programs – including Medi-Cal.
The CalPERS' governing board during a meeting several years ago at the pension fund's headquarters. (Photo: CalPERS board)CalPERS is considering small increases in employer and employee rates over decades to reduce the risk of big investment losses, a policy that also would lower an earnings forecast critics say is too optimistic. The proposal is a response to the “maturing” of a CalPERS system that soon will have more retirees than active workers. From two active workers for each retiree in 2002, the ratio fell to 1.45 to one by 2012 and is expected to be 0.8 to 0.6 to one in the next decades.
Boats cluster together at drought-ravaged Shasta Lake. (Photo: David Greitzer). People across California pay dramatically different amounts for the same amount of water, with price tags set by individual agencies from Crescent City to El Centro. North or south, inland or coastal, what Californians pay for their water is locally driven. Ultimately, retail water’s value is determined in a way similar to real estate – location, location, location.