Articles for category CalPERS
Benefit payments in 2010 by the California Public Employees’ Retirement System, the largest U.S. public pension, spurred more than $26 billion in economic activity in the state, the fund said in a report.
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CalPERS benefit payments rippled through the California economy last year, generating $26 billion in economic activity and supporting more than 93,600 jobs across the state, Anne Stausboll, Chief Executive Officer of the California Public Employees' Retirement System, told a Washington, D.C., conference today.
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From California to Florida, many public employees are paying more for their pensions now than a year ago as strapped state and local governments cast about for savings.
Now a sweeping Republican proposal in the California Senate, among other changes, would hike how much all current and future state and local government workers pay toward their pensions.
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Michael Bilbrey and Richard Ross – the two candidates in the CalPERS runoff election for a vacant seat on the CalPERS Board of Administration – will face off at an upcoming candidates’ forum.
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With California's new fiscal year starting Friday and no compromise with the GOP on a budget in sight, Gov. Jerry Brown's chief spokesman called Sacramento Republicans "basically moronic" for failing to strike [Read More...]
Gov. Jerry Brown and Democratic legislative leaders announced today that they have reached an agreement on a new majority-vote budget plan.
"We've had some tough discussions, but I can tell you that the Democrats in both the Senate and the Assembly have now joined with the administration and myself and we have a very good plan going forward with the budget," Brown said at a press conference in his office this afternoon.
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New York Times June 21, 2011
Then Jim Righeimer, a conservative activist and real estate developer, jumped into the race last year.
The city was on the road to insolvency, he warned, because public employee unions had pressured politicians into handing over generous salaries and pensions. The police chief received $298,000 a year in total compensation, Mr. Righeimer noted. The deputy fire chief had retired with a pension of more than $182,000 a year.
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All CalPERS retirees are invited to participate in CalPERS Ambassador Program at the El Dorado Park Senior Center in Long Beach Sept. 27.
The volunteer Ambassadors will receive education, training and communications so they can better understand, and in turn better communicate, the facts about their retirement benefits. Ambassadors will come together for an initial training and then receive timely facts and outreach ideas via e-mail.
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The California Public Employees’ Retirement System’s Board of Administration on June 15 adopted a 2012 health care rate package with an overall annual premium increase of 4.1 percent for more than 1.3 million CalPERS members.
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Wall Street Journal, May 19, 2011
The nation's biggest pension fund is on target to notch one of its strongest annual returns in the past 20 years, performance that is helping the fund regain its health and its confidence.
But state residents still are being stung by the California Public Employees' Retirement System's funding gap, showing the deep hole into which many pension funds have dug themselves.
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