Posts Tagged: workers

News

Brown OKs state-run pensions for private workers

The road ahead upon retirement. (Photo illustration: Gustavo Frazao, via Shutterstock.)

Gov. Brown has signed historic legislation to set up California’s first state-run pension plan for private-sector workers, allowing millions of employees to continuously build a retirement nest egg regardless of where they work. The governor’s decision means California joins seven other states that offer similar programs, although California’s plan, called Secure Choice, will automatically enroll about 6.8 million workers.

Opinion

SB 32 hits the pocketbook

A powerplant at sunset. (Photo: David Crockett)

OPINION: Last week, politicians congratulated themselves on passing SB 32 – the climate change bill that aggressively extends and expands greenhouse gas emission reductions for the next 13 years—until 2030. Unfortunately, for Californians like you and me, this bill will result in ever-increasing cost burdens on businesses and employees throughout the state.

News

‘Portable’ pensions: Historic changes loom

A photo illustration of pension protection. (Photo: Billion Photos, via Shutterstock)

In a decision that could serve as a national model, Gov. Jerry Brown is considering legislation to allow millions of private-sector employees to steadily build their pensions without interruption — even when they change jobs.

News

Poll: California poverty a big problem, but what’s the fix?

A tent camp for the homeless in San Francisco. (Photo: Brittany Hosea-Small, KQED)

A majority of Californians believe poverty is a serious problem, but they disagree over what to do about it. That’s according to a survey conducted for our California Counts public radio collaboration. The survey by CALSPEAKS asked hundreds of voters and some nonvoters across California how they feel about a range of economic issues, from home ownership and job security to wage disparity and upward mobility.

Opinion

Minimum wage hike: The costs are higher than you think

Binders and documents relating to wage information. (Photo: Tashatuvango, via Shutterstock)

The California minimum wage increase has been approved. The minimum wage will rise by $1 per hour through 2022, up to $15. There are significant costs to employers, both public and private, besides the $5-per-hour increase. Inflation is one of those costs. Let’s look at the real results and implications of what our elected officials have done to us and for themselves on many levels. And let’s find the unintended consequences.

Opinion

The real story behind SB 350

Farm workers tending the fields in the Salinas Valley. (Photo: Rightdx, Shutterstock)

OPINION: A recent opinion column in Capitol Weekly (Jan. 7, “Moderate Democrats: the slaves of Big Oil?”) was not the real story of last year’s SB 350, an effort to reduce petroleum-based transportation fuels in California by 50 percent. Ironically, the real story of SB 350 is the first line of the author’s eighth paragraph: “The story of inequality in our state is not just one of economics…”

News

Term limits for CalPERS board leaders?

The CalPERS' governing board during a meeting several years ago at the pension fund's headquarters. (Photo: CalPERS board)

A tentative CalPERS proposal would limit the board president and committee chairs to four consecutive one-year terms, a policy that could end the long-running presidency of Rob Feckner in 2017. He has presided over times good and bad at the nation’s largest state public pension system.

News

CalPERS: Retirees begin to outnumber active workers

The CalPERS' governing board during a meeting several years ago at the pension fund's headquarters. (Photo: CalPERS board)

After a loss of $100 billion in the recent recession, the CalPERS funding level dropped from 100 percent in 2007 to 61 percent in 2009. It has not recovered, despite a major bull market in which the S&P 500 index of large stocks tripled. “Even with the dramatic returns we have seen over the past six years, because the demographics of plans in general have changed and plans are now by and large cash-flow negative, it’s been very challenging to dig out of that hole,” Andrew Junkin, a Wilshire consultant, told the CalPERS board last week.

News

‘California rule’ at center stage in pension dispute

Some thought an appeal of a court ruling blocking a key part of a San Jose pension reform could lead to a high court review of the “California rule,” an issue in an initiative ballot summary issued last week by Attorney General Kamala Harris. But dropping an appeal of the Superior Court ruling is part of a settlement of union suits against the voter-approved pension reform that could soon be implemented by court action

Opinion

Small business, labor join together on franchises

It may seem nostalgic to think that small businesses and the people they employ could work together for the strength of our communities, but that old-fashioned idea is making a comeback because giant corporations like 7-Eleven are threatening the survival of both local franchise owners and workers in our communities.

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