Fighting Back on Retirement Benefits

Fighting Back on Retirement Benefits

January 16, 2018

California Stories

California Pensions Convene Anti-Sexual Harassment Coalition (Chief Investment Officer)
https://www.ai-cio.com/news/california-pensions-convene-anti-sexual-harassment-coalition/

CalPERS Gives $500 Million to New Private Equity Fund of Funds (Chief Investment Officer)
https://www.ai-cio.com/news/calpers-gives-500-million-new-private-equity-fund-funds/

National Stories

Lawmakers form working group to ‘reset’ efforts to save public pensions (WLKY)
https://www.wlky.com/article/pension-working-group-meets-in-frankfort/25904270

Mexico to Double Pension Benefits, Reduce Retirement Age (Chief Investment Officer)
https://www.ai-cio.com/news/mexico-double-pension-benefits-reduce-retirement-age/

January 14, 2019

California Stories

Governor seeks extra pension payments (Cal Matters)
https://www.davisenterprise.com/local-news/state-government/newsom-seeks-extra-pension-payments/

New California gov proposes paying extra $3B to CalPERS pension fund (Bloomberg)
https://www.benefitspro.com/2019/01/11/new-california-gov-proposes-paying-extra-3b-to-calpers-pension-fund/?slreturn=20190014001008

Editorial | Gov. Newsom’s pension paydown plan: Part smart, part is scary. (San Diego Union Tribune)
https://www.sandiegouniontribune.com/opinion/editorials/sd-newsom-calpers-calstrs-pay-down-liabilities-20190111-story.html

It didn’t fix the L.A. teacher strike, but Newsom’s pension idea would help schools, anyway (Cal Matters)
https://calmatters.org/articles/lausd-teacher-strike-newsom-pension-schools/

Strike or No Strike, Pensions Problematic for LA Schools (AP)
https://www.usnews.com/news/best-states/california/articles/2019-01-12/strike-or-no-strike-pensions-problematic-for-la-schools

L.A. teachers are borrowing the #RedForEd hashtag and talking points. Here’s how their strike would be different from last year’s red state walkouts (LA School Report)
http://laschoolreport.com/l-a-teachers-are-borrowing-the-redfored-hashtag-and-talking-points-heres-how-their-strike-would-be-different-from-last-years-red-state-walkouts/

‘Lock the door and throw away the key’: As strike looms, LAUSD asks Newsom to intercede (Cal Matters)
https://calmatters.org/articles/newsom-la-teacher-strike-lausd/

A booming economy hasn’t put a dent in Ventura’s pension debt (Ventura County Star)
https://www.vcstar.com/story/news/local/communities/ventura/2019/01/13/ventura-pension-debt-rising-economy-financial-report-calipers/2499298002/

Riverside Board Targets Salton Sea, Pension Costs in Latest Platform (Patch)
https://patch.com/california/palmdesert/board-targets-salton-sea-pension-costs-latest-platform

National Stories

Oh sure, Pritzker, Madigan and Democrats will fix Illinois (Chicago Now)
http://www.chicagonow.com/dennis-byrnes-barbershop/2019/01/oh-sure-pritzker-madigan-and-democrats-will-fix-illinois/

New York mayor proposes city-managed IRA for private-sector workers (Pensions & Investments)
https://www.pionline.com/article/20190111/ONLINE/190119955/new-york-mayor-proposes-city-managed-ira-for-private-sector-workers

Once deposited, pension funds become private (The Vindicator)
http://www.vindy.com/news/2019/jan/13/once-deposited-pension-funds-become-priv/

January 10, 2019

California Stories

PENSION SPENDING SUPPORTS 7.5 MILLION JOBS, $1.2 TRILLION IN ECONOMIC OUTPUT ACROSS THE U.S. (National Institute on Retirement Security)
https://www.nirsonline.org/reports/pensionomics-2018-measuring-the-economic-impact-of-defined-benefit-pension-expenditures/

My turn: California’s other fiscal time bomb (Cal Matters)
https://calmatters.org/articles/commentary/my-turn-californias-other-fiscal-time-bomb/

OPINION California’s massive debt should caution against big spending (OC Register)
https://www.ocregister.com/2019/01/09/californias-massive-debt-should-caution-against-big-spending/

Why Guy | Why doesn’t ‘Transparent California’ post employee’s pensions? (ABC 10)
https://www.abc10.com/video/entertainment/television/programs/why-guy-question/why-guy-why-doesnt-transparent-california-post-employees-pensions/103-65f4f0ff-8324-4fd2-9991-7e990ff6c6b7

Making It in San Diego: Cost of housing driving up retirement spending in California (10 News San Diego)
https://www.10news.com/news/making-it-in-san-diego/making-it-in-san-diego-cost-of-housing-driving-up-retirement-spending-in-california

Campaign Seeks to Limit Public Unions Political Clout (Times of San Diego)
https://timesofsandiego.com/politics/2019/01/09/campaign-seeks-to-limit-public-unions-political-clout/

San Francisco Employees’ Retirement System Becomes Major ESG Force (Chief Investment Officer)
https://www.ai-cio.com/news/san-francisco-employees-retirement-system-becomes-major-esg-force/

National Stories

As Retiree Health-Care Costs Soar, Public Employers Turn to Private Insurers (Governing)
http://www.governing.com/topics/finance/gov-retiree-health-care-costs-soar-government-solutions.html

Pension reform is main topic, but not the only one, on voters’ minds as legislative session begins (State Journal (Kent.)
https://www.state-journal.com/2019/01/08/pension-reform-not-only-topic-on-voters-minds-as-session-begins/

January 9, 2019

California Stories

CalPERS No. 2 Investment Officer Resigns (Chief Investment Officer)
https://www.ai-cio.com/news/calpers-no-2-investment-officer-resigns/

CalPERS’ chief operating investment officer resigns (Pensions & Investments)
https://www.pionline.com/article/20190108/ONLINE/190109877/calpers-chief-operating-investment-officer-resigns

National Stories

Editorial: ‘Grubby’ pay-raise bill is a shameful display of greed (The Vindicator (Ohio)
http://www.vindy.com/news/2019/jan/08/grubby-pay-raise-bill-is-a-shameful-disp/

January 8, 2019

California Stories

The economy is booming. Why are so many California schools broke? (Sacramento Bee)
https://www.sacbee.com/news/politics-government/capitol-alert/article223799285.html

At least 3 new faces will join the CalPERS board in 2019. What’s ahead for your pension? (Sacramento Bee)
https://www.sacbee.com/news/politics-government/the-state-worker/article223944580.html

Cities Across OC Struggle with Law Enforcement and Fire Pensions (Voice of OC)
https://voiceofoc.org/2019/01/cities-across-oc-struggle-with-law-enforcement-and-fire-pensions/

CalPERS senior executive seen as ‘instrumental’ to PE strategy resigns (PE Hub)
https://www.pehub.com/buyouts/calpers-senior-executive-seen-as-instrumental-to-pe-strategy-resigns/

CalPERS Discloses Names of Potential Candidates to Run New Private Equity Organizations (Chief Investment Officer)
https://www.ai-cio.com/news/calpers-disclosures-names-potential-candidates-run-new-private-equity-organizations/

Letter: County pensions (Ventura County Star)
https://www.vcstar.com/story/opinion/readers/2019/01/07/county-pensions/2509068002/

National Stories

Paducah looking for ways to fund employee pensions (WPSD (Kent.)
https://www.wpsdlocal6.com/2019/01/07/paducah-looking-for-ways-to-fund-employee-pensions/

January 7, 2019

California Stories

Brown cut retirement debt bigger than pensions (Calpensions)
https://calpensions.com/2019/01/07/brown-cut-retirement-debt-bigger-than-pensions/

Skelton: As California’s new governor, Gavin Newsom needs to address what no one wants to talk about (LA Times)
https://www.latimes.com/politics/la-pol-sac-skelton-gavin-newsom-public-pensions-tax-revenue-20190107-story.html

At least 3 new faces will join the CalPERS board in 2019. What’s ahead for your pension? (Sacramento Bee)
https://www.sacbee.com/news/politics-government/the-state-worker/article223944580.html

OPINION Jerry Brown’s warning of ‘fiscal oblivion’ (SoCal News Group)
https://www.pasadenastarnews.com/2019/01/05/jerry-browns-warning-of-fiscal-oblivion/

Editorial: Delay on pay hikes for county brass would have been warranted (Marin Independent Journal)
https://www.marinij.com/2019/01/06/editorial-delay-on-pay-hikes-for-county-brass-was-warranted/

National Stories

Return of volatility, fee pressures top P&I’s list of 2018 stories (Pensions & Investments)

https://www.pionline.com/article/20190107/PRINT/190109927/return-of-volatility-fee-pressures-top-pampis-list-of-2018-stories

Opinion: Open record and government pensions (Las Vegas Review-Journal)

https://www.reviewjournal.com/opinion/open-record-and-government-pensions-1566774/

Letter: Tensions growing, jobs disappearing (The Inter Mountain)

http://www.theintermountain.com/opinion/letters-to-the-editor/2019/01/tensions-growing-jobs-disappearing/

Marysville gets ‘clean’ opinion on annual audit (The Voice (Mich.))

http://www.voicenews.com/news/marysville-gets-clean-opinion-on-annual-audit/article_57079d02-1057-11e9-9e28-13eae0225e02.html

January 2, 2019

California Stories

Brown leaves with pension reform pending (Capitol Weekly)
http://capitolweekly.net/brown-leaves-pension-reform-pending/

National Stories

As Kentucky pension battle rages on, here’s why Tennessee government workers are secure (Nashville Tennessean)
https://www.tennessean.com/story/news/2019/01/01/kentucky-pension-battle-rages-why-tennessee-government-workers-secure/2378623002/

Pensions, pot and gambling? Not a Utah problem (Deseret News)
https://www.deseretnews.com/article/900048629/pensions-pot-and-gambling-not-a-utah-problem.html

Pension reporting clouds school finance reports (Daily Advance (N.C.)
http://www.dailyadvance.com/News/2018/12/31/Pension-reporting-clouds-school-finance-reports.html

December 28, 2018

California Stories

CalPERS Engages Private Prison Companies (Chief Investment Officer)
https://www.ai-cio.com/news/calpers-engages-private-prison-companies/

California Is In Great Financial Shape – And Headed For An Epic Crisis (Gold Seek)
http://news.goldseek.com/DollarCollapse/1545835951.php

National Stories

Analysis faults Pennsylvania for budget trickery, notes modest efforts to address pension debt (Pennsylvania Watchdog)
https://www.watchdog.org/pennsylvania/analysis-faults-pennsylvania-for-budget-trickery-notes-modest-efforts-to/article_cc6fa3be-0940-11e9-9092-63f241514369.html

December 26, 2018

California Stories

Jerry Brown predicts ‘fiscal oblivion’ if pensions are off limits for government employers (Sacramento Bee)
https://www.modbee.com/news/state/california/article223385445.html

Dan Walters: Brown Redux, Part 4: What will be his legacy? (Cal Matters)
https://calmatters.org/articles/commentary/jerry-brown-legacy-california-governor/

John Chiang: CalSavers will enable 7.5 million more workers to start preparing for retirement
https://www.sacbee.com/opinion/op-ed/article223445730.html

Editorial: Newsom must deal with pensions and DMV fixes (Santa Cruz Sentinel)
https://www.santacruzsentinel.com/2018/12/25/editorial-newsom-must-deal-with-pensions-and-dmv-fixes/

Newsmaker 2018: Pension crisis threatened local governments’ budgets (Santa Cruz Sentinel)
https://www.santacruzsentinel.com/2018/12/24/newsmaker-2018-pension-crisis-threatened-local-governments-budgets/

Glendale’s rising pension costs drive projected $4M budget deficit (Glendale News-Press)
https://www.latimes.com/socal/glendale-news-press/news/tn-gnp-me-glendale-budget-deficit-20181220-story.html

LA Forecast: Pensions and Budget Will Be Clobbered by Poor Investment Returns (City Watch)
https://www.citywatchla.com/index.php/la-watchdog/16803-la-forecast-pensions-and-budget-will-be-clobbered-by-poor-investment-returns

CalPERS Planned Private Equity Program Could Grow Quickly (Chief Investment Officer)
https://www.ai-cio.com/news/calpers-planned-private-equity-program-grow-quickly/

CalPERS may move soon on new private equity model (Pensions & Investments)
https://www.pionline.com/article/20181219/ONLINE/181219736/calpers-may-move-soon-on-new-private-equity-model

 

National Stories

States push forward with expanding retirement savings as congressional bills die (CNBC)
https://www.cnbc.com/2018/12/20/states-push-forward-with-expanding-retirement-savings-as-congressional-bills-die.html

Pensions provide a welcome cushion as Seattle couple eyes retirement options (Seattle Times)
https://www.seattletimes.com/business/pensions-provide-a-welcome-cushion-as-seattle-couple-eyes-retirement-options/

GRIMES CALLS FOR CONSTITUTIONAL AMENDMENT REGARDING PUBLIC EMPLOYEE PENSIONS (WTVQ)
https://www.wtvq.com/2018/12/18/grimes-calls-constitutional-amendment-regarding-public-employee-pensions/

Guest View: A moral case for Illinois pension reform to protect retirees and taxpayers (State Journal-Register (Illinois)
https://www.sj-r.com/opinion/20181225/guest-view-moral-case-for-illinois-pension-reform-to-protect-retirees-and-taxpayers

David Giuliani: Taxes upset you? Look at pensions (Daily Journal (Ill.)
https://www.daily-journal.com/news/local/david-giuliani-taxes-upset-you-look-at-pensions/article_d282fc0e-0488-11e9-a229-e3b49a1b6c59.html

Op-Ed: Assessing Rauner’s legacy as governor (Illinois News Network)
https://www.ilnews.org/opinion/op-ed-assessing-rauner-s-legacy-as-governor/article_abd32a7a-030c-11e9-8030-7be48a6ab0ab.html

Pension Tension: Vermont’s Underfunded Retirement Obligations (Seven Days)
https://www.sevendaysvt.com/vermont/pension-tension-vermonts-underfunded-retirement-obligations/Content?oid=24284143

Report: Pennsylvania could save billions on pensions (Allentown Morning Call)
https://insurancenewsnet.com/oarticle/report-pennsylvania-could-save-billions-on-pensions#.XCOm2s9KgWo

City, State Comptrollers Take Different Approaches on Pension-Fund Pressure (The Chief (NY)
http://thechiefleader.com/news/news_of_the_week/city-state-comptrollers-take-different-approaches-on-pension-fund-pressure/article_fc779b5e-047a-11e9-8a88-b7c7c30c906a.html

December 14, 2018

National Stories

Kentucky Supreme Court unanimously strikes down controversial pension law (Lexington Herald Leader)
https://www.kentucky.com/news/politics-government/article221665830.html

Kentucky Supreme Court strikes down pension reform law (Louisville Courier Journal)
https://www.courier-journal.com/story/news/politics/2018/12/13/kentucky-supreme-court-strikes-down-pension-reform-law/1839742002/

Kentucky pension: Officials respond to ruling with cheers and jeers (Louisville Courier Journal)
https://www.courier-journal.com/story/news/2018/12/13/kentucky-pension-republicans-democrats-react-ruling/2300052002/

Kentucky Supreme Court Tosses Pension Law on Procedural Factors (Reuters)
https://www.usnews.com/news/us/articles/2018-12-13/kentucky-supreme-court-tosses-pension-law-on-procedural-factors

State of New Mexico workers could pay more for pensions (KRWG)
https://www.krwg.org/post/state-new-mexico-workers-could-pay-more-pensions

The Math Test That New Jersey and Illinois Are Nearly Flunking (Bloomberg)
https://www.bloomberg.com/news/articles/2018-12-12/the-math-test-that-new-jersey-and-illinois-are-nearly-flunking

Connecticut Wants You to View Your Neighbor’s Pension. Here’s Why (Fortune)
http://fortune.com/2018/12/13/connecticut-pensions-online/

December 13, 2018

California Stories

Dan Walters: Pension benefits hinge on state Supreme Court case (CalMatters)
https://calmatters.org/articles/commentary/pension-benefits-hinge-on-state-supreme-court-case/

CalPERS Decision to Divest from Tobacco Is Costly (Chief Investment Officer)
https://www.ai-cio.com/news/calpers-decision-divest-tobacco-costly/

California’s Pension Fund Says No to Tobacco Stocks but Yes to Marijuana Stocks (Barron’s)
https://www.barrons.com/articles/calpers-buys-marijuana-stock-tilray-51544551613

Alpha Wolves in the Henhouse’: California’s Multibillion-Dollar Private-Equity Boondoggle (New York Magazine)
http://nymag.com/intelligencer/2018/12/what-is-calpers-new-private-equity-business-model.html

National Stories

Emanuel makes strong pitch for $10B in pension bonds (Chicago Sun-Times)
https://chicago.suntimes.com/news/mayor-rahm-emanuel-strong-pitch-10b-pension-bonds/

December 12, 2018

California Stories

Workers to stage 1-day protest at 4 Southern California hotels (Pasadena Sun-Star)
https://www.pasadenastarnews.com/2018/12/11/workers-to-stage-1-day-protest-at-4-southern-california-hotels/

National Stories

West Haven PD, losing officers, pleads with city to return to a traditional pension plan (New Haven Register)
https://www.nhregister.com/news/article/West-Haven-PD-losing-officers-pleads-with-city-13453038.php

The truth about pensions: they aren’t dead, but some are barely holding on (Marketwatch)
https://www.marketwatch.com/story/the-truth-about-pensions-they-arent-dead-but-some-are-barely-holding-on-2018-12-11

Why are Kansas and Missouri still paying for elected officials’ public pensions? (Kansas City Star)
https://www.kansascity.com/opinion/opn-columns-blogs/dave-helling/article222947820.html

State of New Mexico workers could pay more for pensions (Santa Fe New Mexican)
http://www.santafenewmexican.com/news/local_news/state-of-new-mexico-workers-could-pay-more-for-pensions/article_de7a10ef-83f4-5952-859e-b9976e822607.html

Underfunded state government pensions liabilities increase to $133.5 billion (Illinois News Network)
https://www.ilnews.org/news/state_politics/underfunded-state-government-pensions-liabilities-increase-to-billion/article_6a050414-fcc3-11e8-bf3a-cf7f6985dd5c.html

A constitutional amendment for pensions is just not in the cards (Capitol Fax)
https://capitolfax.com/2018/12/11/a-constitutional-amendment-for-pensions-is-just-not-in-the-cards/

December 11, 2018

California Stories

Letter: Unkept promises on state’s pensions (SF Chronicle)
https://www.sfchronicle.com/opinion/letterstoeditor/article/Letters-to-the-Editor-City-should-audit-the-13452463.php

CalSTRS preps for downturn with risk mitigation strategy (Pensions & Investments)
https://www.pionline.com/article/20181210/PRINT/181219918/calstrs-preps-for-downturn-with-risk-mitigation-strategy

National Stories

Agencies Warn Lamont of Looming Surge in State Retirements (NBC Connecticut)
https://www.nbcconnecticut.com/news/local/Agencies-Warn-Lamont-of-Looming-Surge-in-State-Retirements-502300902.html

December 10, 2018

California Stories

Editorial: California’s golden pension rights need fixing (SF Chronicle)
https://www.sfchronicle.com/opinion/editorials/article/Editorial-California-s-golden-pension-rights-13452464.php

OPINION Decision on “California rule” will impact who rules California (OC Register)
https://www.ocregister.com/2018/12/09/decision-on-california-rule-will-impact-who-rules-california/

Unfunded pension liabilities looming over local governments (Eureka Times-Standard)
https://www.times-standard.com/2018/12/06/unfunded-pension-liabilities-looming-over-local-governments/

Mailbag: Police officers’ pensions, rent issues raise concerns for readers (Glendale News-Press)
https://www.latimes.com/socal/glendale-news-press/opinion/tn-gnp-me-mailbag-20181207-story.html

National Stories

Punitive’ lame duck bills hurt Michigan teachers and state workers, union leaders say (Lansing State Journal)
https://www.lansingstatejournal.com/story/news/local/2018/12/06/lame-duck-bills-would-hit-public-unions-michigan/2224886002/

December 5, 2018

California Stories

Brown’s pension plan goes before state high court (Sacramento Bee)
https://www.sacbee.com/news/politics-government/the-state-worker/article222581865.html

Should the Supreme Court reduce or alter pension benefits for California public employees? (KPCC)
https://www.scpr.org/programs/airtalk/2018/12/04/63951/should-the-supreme-court-reduce-or-alter-pension-b/

National Stories

Public Sector Pensions Assume Record-High Investment Returns (Forbes)
https://www.forbes.com/sites/andrewbiggs/2018/12/04/public-sector-pensions-assume-record-high-investment-returns/#5058bfd56ec5

December 3, 2018

California Stories

A grand experiment in retirement savings gets under way in California (San Francisco Chronicle)
https://www.sfchronicle.com/business/networth/article/A-grand-experiment-in-retirement-savings-gets-13435934.php

Retirement funds spike for county agencies (Eureka Times Standard)
https://www.times-standard.com/2018/12/01/retirement-funds-spike-for-county-agencies/

National Stories

Op-ed: Who Wants to Support a Millionaire? (WSJ)
https://www.wsj.com/articles/who-wants-to-support-a-millionaire-1543623817

IL Supreme Court: Government workers can accrue pension benefits even if working for union while on leave (Cook County Record)
https://cookcountyrecord.com/stories/511651376-il-supreme-court-government-workers-can-accrue-pension-benefits-even-if-working-for-union-while-on-leave

Editorial | Court ruling outlines problem (The News Gazette)
http://www.news-gazette.com/opinion/editorials/2018-12-02/editorial-court-ruling-outlines-problem.html

Property tax bills increase in 34 Burlington County towns this year (Burlington County Times)
http://www.burlingtoncountytimes.com/news/20181130/property-tax-bills-increase-in-34-burlington-county-towns-this-year

Marysville, Mich. files corrective plan for underfunded pensions (The Voice)
http://www.voicenews.com/news/marysville-files-corrective-plan-for-underfunded-pensions/article_7ec0ef20-f4c2-11e8-9646-8bd91826ef74.html

Bill might save city and pensions (Times Herald)
https://www.thetimesherald.com/story/opinion/editorials/2018/11/30/bill-might-save-city-pensions/38647603/