Articles for category State Economy
Posted May 03, 2011 by
General News
State Economy
State Employees
With Wisconsin convulsed by unrest over a bill to curb public employee unions, a similar measure is steaming toward passage in Ohio, a bigger labor stronghold with a vital role as a political battleground. [Read More...]
Posted Apr 19, 2011 by
General News
State Economy
Politics
Retirement
In a victory for all public retirees, the California Supreme Court on April 13 refused to hear the County of Orange’s appeal seeking to reverse retroactive pension increases given to retired Orange County sheriffs’ deputies.
The refusal to hear the case means the decision made earlier this year by the 2nd District Court of Appeal in Los Angeles stands. That court ruled the 2001 labor agreement retroactively giving Orange County deputies a 3 percent at age 50 formula for retirement is valid and does not violate the provisions of the California Constitution. [Read More...]
Posted Apr 13, 2011 by
CalPERS
General News
State Economy
Retirement
Republicans and pension busters have been whacking CalPERS like a pinata for the past year. But here's something they don't like to talk about: CalPERS is a huge job creator in California. And weakening it would be a major drag on the state's economy.
CalPERS has invested more than $17 billion in California-based companies, properties and projects, helping to generate nearly one million jobs throughout the State, the California Public Employees' Retirement System (CalPERS) Investment Committee was told on Monday.
[Read More...]
Posted Apr 08, 2011 by
State Economy
Politics
State Employees
Sacramento Bee
Published Friday, Apr. 08, 2011
With the budget stuck in neutral, Gov. Jerry Brown and lawmakers are leaving Sacramento to bolster their case for and against taxes.
The dueling roadshows reflect the fact that the parties remain at loggerheads after talks broke down last week. Facing a remaining $15.4 billion deficit, Brown is still seeking an election on taxes.
[Read More...]
Posted Apr 08, 2011 by
General News
Health Care
State Economy
Retirement
Sacramento Bee
Published Friday, Apr. 08, 2011
Executives from the Area 4 Agency on Aging – which funnels more than $6 million in federal grants each year to a host of seniors' nutrition, health and social programs in a seven-county area including Sacramento – warned elder advocates this week to expect significant funding reductions to programs for older adults.
"We're entering the great unknown," said Area 4 Agency on Aging executive director Deanna Lea. "We need a disaster plan, just in case."
[Read More...]
Posted Apr 08, 2011 by
General News
State Economy
Politics
As Brown launches a road trip in a quest for public support, some of his most ardent supporters are wondering if he’ll sell his budget plans by moving to the right – too far to the right.
The issue arises after the Democratic governor proposed changes in the public pension system, including many that have been demanded by Republicans or already contained in GOP-authored legislation. Some were presented as ideas, worded vaguely and signaling a starting point for negotiations.
[Read More...]
Posted Mar 14, 2011 by
CalPERS
State Economy
Sacramento Bee March 14, 2011
If things had gone according to plan, Gov. Jerry Brown might be on the campaign trail asking voters to support tax extensions to balance the state budget.
Instead, the Democratic governor spent the weekend negotiating with Republican lawmakers to place his tax package on the ballot in exchange for long-term changes on pensions, spending growth and state regulations. [Read More...]
Posted Mar 03, 2011 by
General News
Legislation
State Economy
In what could become a turning point in Gov. Jerry Brown's effort to close California's $26.6 billion deficit, a group of Republican state senators may support the Democratic governor's plan to ask voters for extended tax increases, in exchange for concessions, people familiar with the matter said. [Read More...]
Posted Mar 03, 2011 by
General News
State Economy
Americans strongly oppose efforts to strip unionized government workers of their rights to collectively bargain, even as they want public employees to contribute more money to their retirement and health-care benefits, the latest Wall Street Journal/NBC News poll shows. [Read More...]
Posted Mar 03, 2011 by
CalPERS
Retirees
State Economy
Politics
State Employees
Lawmakers on Wednesday reacted skeptically to a controversial new proposal to lower public employee pensions throughout state and local government.
"Frankly, I just don't see this happening," said Sen. Alex Padilla during a joint meeting of Assembly and Senate committees that oversee public employee compensation.
[Read More...]
Posted Jan 11, 2011 by
State Economy
Politics
Medi-Cal patients would have new mandatory co-pays and limits on their prescriptions and doctor visits.
Doctors and nursing homes would be hit with a 10 percent cut in Medi-Cal reimbursements.
And state funding for adult day health care would be eliminated, making it tougher for thousands of frail seniors to remain in their homes.
[Read More...]
Posted Oct 08, 2010 by
State Economy
Politics
Retirement
State workers hired in mid-November and later will have to wait longer to get their pensions – and those pensions will be smaller – under terms of the budget bill lawmakers plan to vote on today.
[Read More...]