Fighting Back on Retirement Benefits

August 16, 2019

CALIFORNIA NEWS

Jerry Brown, his eye still on pensions, endorses candidate in CalPERS board election
https://www.sacbee.com/news/politics-government/the-state-worker/article233092102.html

California Surprise-Billing Law Lowers In-Network Payments: Study
https://www.medscape.com/viewarticle/916819

NATIONAL NEWS

U.S. Pensions Return 6.47% for Fiscal 2019, Miss Target
https://www.ai-cio.com/news/us-pensions-return-6-47-fiscal-2019-miss-target/

Army pensions watchdog wades into taper tax battle
https://www.ft.com/content/3570eab0-be88-11e9-89e2-41e555e96722

August 14, 2019

CALIFORNIA NEWS

Economic Impacts of CalPERS Pensions in California, FY 2017-18
https://www.calpers.ca.gov/page/about/organization/facts-at-a-glance/economic-impacts-pensions-california

NATIONAL NEWS

U.S. Pension returns trail targets for the first time in three years
https://www.crainscleveland.com/finance/us-pension-returns-trail-targets-first-time-three-years

Returns on public pensions slump to 3-year low
https://www.nwaonline.com/news/2019/aug/13/returns-on-public-pensions-slump-to-3-y/

Nearly 40% of Education Spending Consumed by Pension Costs
https://www.illinoispolicy.org/nearly-40-of-education-spending-consumed-by-pension-costs/

Opinion: Voters can make Phoenix transparent and responsible on pensions
https://www.washingtonexaminer.com/opinion/op-eds/voters-can-make-phoenix-transparent-and-responsible-on-pensions

Opinion: Why annuities should be part of your retirement
https://www.marketwatch.com/story/why-annuities-should-be-part-of-your-retirement-pension-2019-08-12

Privatization Pension Debt: In Government we trust
https://www.city-journal.org/privatization-pension-debt

August 13, 2019

CALIFORNIA NEWS

Economic Impacts of CalPERS Pensions in California, FY 2017-18
https://www.calpers.ca.gov/page/about/organization/facts-at-a-glance/economic-impacts-pensions-california

California Kaiser Permanente Workers Authorize Strike, Hospital Decries Process
https://www.nbclosangeles.com/news/local/California-Kaiser-Permanente-Workers-Authorize-Strike-538080041.html

Opinion: Spending other people’s money? Keep your promises
https://www.pe.com/2019/08/09/spending-other-peoples-money-keep-your-promises/

NATIONAL NEWS

U.S. Pension Returns Trail Targets for First Time in Three Years
https://www.bloomberg.com/news/articles/2019-08-12/u-s-pension-returns-trail-targets-for-first-time-in-three-years

University pensions: why are fresh strikes threatened?
https://www.ft.com/content/16bcb6ac-a3b8-11e9-974c-ad1c6ab5efd1

Pensions report investment values
https://www.nwaonline.com/news/2019/aug/12/pensions-report-investment-values-20190/

August 8, 2019

CALIFORNIA NEWS

Teachers, firefighters from California to New Jersey seek Chinese tech riches
https://www.latimes.com/business/story/2019-08-06/teachers-firefighters-from-california-to-new-jersey-seek-chinese-tech-riches

More than 1,000 public pensions in California are so big they exceed IRS limits
https://www.sacbee.com/news/politics-government/the-state-worker/article233539467.html

NATIONAL NEWS

A Modest Proposal to Solve Illinois’ Pension Woes
https://www.forbes.com/sites/ebauer/2019/08/07/a-modest-proposal-to-solve-illinois-pension-woes/#4a840b0a2815

Lawmakers demand Help for Union Pensions
https://www.plansponsor.com/exclusives/lawmakers-demand-help-union-pensions/

August 7, 2019

CALIFORNIA NEWS

Number of California public retirees in $100k club skyrockets, but they’re just part of the burden on state pension system
https://www.record-bee.com/2019/08/06/number-of-california-public-retirees-in-100k-club-skyrockets-but-theyre-just-part-of-the-burden-on-state-pension-system/

NATIONAL NEWS

Here’s how much your state spends on retirement
https://www.usatoday.com/story/money/2019/08/06/retirement-heres-how-much-your-state-spends-on-pension-funds/39871969/

America’s Pension Funds Fell Short in 2019
https://www.wsj.com/articles/americas-pension-funds-fell-short-in-2019-11565092806

Public pensions returns lowest in three years
https://www.foxbusiness.com/personal-finance/public-pensions-return-2019

Retired cops ‘getting away with murder’ by raking in fat pensions: report
https://nypost.com/2019/08/06/retired-cops-getting-away-with-murder-by-raking-in-fat-pensions-report/

Police and fire unions must lead on pension reform
https://www.chicagobusiness.com/opinion/police-and-fire-unions-must-lead-pension-reform

These New York police officers recently retired with $100,000 a year pensions
https://www.lohud.com/story/news/politics/elections/2019/08/06/these-new-york-police-officers-recently-retired-100-000-pensions/1933375001/

MassPRIM peerless among pension private equity performers: study
https://www.pehub.com/buyouts/massprim-peerless-among-pension-private-equity-performers-study/

Stenger Scandal Prompts St. Louis County Council to Block Pensions for Those Convicted of Corruption
https://news.stlpublicradio.org/post/stenger-scandal-prompts-st-louis-county-council-block-pensions-those-convicted-corruption#stream/0

August 6, 2019

CALIFORNIA NEWS

Number of public retirees in $100k club skyrockets, but they’re just part of the burden on state pension system
https://www.ocregister.com/2019/08/05/number-of-public-retirees-in-100k-club-skyrockets-but-theyre-just-part-of-the-burden-on-state-pension-system/

Number of pensioned public retirees in California’s $100K club skyrockets
https://www.timesheraldonline.com/2019/08/05/number-of-public-retirees-in-100k-club-skyrockets-but-theyre-just-part-of-the-burden-on-state-pension-system/

NATIONAL NEWS

Phoenix pension campaign supporters are sharing false information about the city’s debt
https://www.azcentral.com/story/news/politics/fact-check/2019/08/04/phoenix-proposition-106-supporters-share-false-data-pension-debt/1868910001/

Kentucky pension law seen as ‘negative’ for credit rating
https://www.state-journal.com/news/state_news/kentucky-pension-law-seen-as-negative-for-credit-rating/article_8964cc0f-a29d-5af9-8c29-e6310ca69dba.html

Burlison leads evaluation of Missouri pensions
https://sbj.net/stories/burlison-leads-evaluation-of-missouri-pensions,64981

August 5, 2019

CALIFORNIA NEWS

Local pension costs grew in California at nearly six times national rate, new data show
https://www.sacbee.com/news/politics-government/the-state-worker/article233372547.html

California’s Treasurer celebrates state’s tax-and spend addiction
https://www.record-bee.com/2019/08/03/californias-treasurer-celebrates-states-tax-and-spend-addiction/

NATIONAL NEWS

“Fiscal Democracy,” Autopilot Spending, And Pension Underfunding: A New Report
https://www.forbes.com/sites/ebauer/2019/08/01/fiscal-democracy-autopilot-spending-and-pension-underfunding-a-new-report/#7fa6362a68d7

Association created for global study of pensions
https://www.pionline.com/research/association-created-global-study-pensions

Should Pennsylvania tax pensions? Reactions range from ‘attack on retirees’ to reasonable concept’
https://www.mcall.com/opinion/mc-opi-pennsylvania-pension-retirement-tax-school-20190803-rcebsifinbdp5cl6llyzkouuhe-story.html

Whitmer: Delaying pension payments has ‘long-term costs’
https://www.detroitnews.com/story/news/local/michigan/2019/08/01/whitmer-delaying-road-funding-pensions/39878477/

Phoenix pension campaign supporters are sharing information about the city’s debt
https://www.azcentral.com/story/news/politics/fact-check/2019/08/04/phoenix-proposition-106-supporters-share-false-data-pension-debt/1868910001/

Readers React: New tax on pensions certainly won’t help seniors
https://www.mcall.com/opinion/readers-react/mc-opi-let-meagher-school-taxes-retirement-income-20190803-6iwvvuocizdwto5uwvzws7rn2u-story.html

August 2, 2019

Half of California workers have no retirement savings, says UC Berkeley report
https://www.mercurynews.com/2019/07/31/half-of-california-workers-have-no-retirement-savings-says-uc-berkeley-report/

“Fiscal Democracy,” Autopilot Spending, And pension Underfunding: A New Report
https://www.forbes.com/sites/ebauer/2019/08/01/fiscal-democracy-autopilot-spending-and-pension-underfunding-a-new-report/#4cc1842368d7

Local Pension costs grew in California at nearly six times national rate, new data show
https://www.sacbee.com/news/politics-government/the-state-worker/article233372547.html

Pension costs make California agencies ‘do less with more,’ Berkeley professor says
https://calcoasttimes.com/2019/08/01/pension-costs-make-california-agencies-do-less-with-more-berkeley-professor-says/

Sacramento CEO faces 5 years in prison for taking over $1 million from pensions
https://www.sacbee.com/news/local/crime/article233406057.html

With 6.8% Return, CalSTRS Narrowly Misses Target
https://www.ai-cio.com/news/6-8-return-calstrs-narrowly-misses-target/

UC, union workers reach tentative agreement including pay hikes of 20% or more
https://www.pe.com/2019/08/01/13000-union-workers-at-uc-reach-tentative-agreement-including-pay-hikes-of-20-or-more/

https://www.ocregister.com/2019/08/01/13000-union-workers-at-uc-reach-tentative-agreement-including-pay-hikes-of-20-or-more/

Grand jury calls for cities to be more transparent with pension costs
https://almanacnews.com/news/2019/08/01/grand-jury-calls-for-cities-to-be-more-transparent-with-pension-costs

NATIONAL NEWS

Senate to Deal with Union Pension Crisis After House Passes Butch Lewis Act
https://www.ai-cio.com/news/senate-deal-union-pension-crisis-house-passes-butch-lewis-act/

Connecticut Governor Strikes Deal to Save State Pension
https://www.ai-cio.com/news/connecticut-governor-strikes-deal-save-state-pension/

Whitmer: Delaying pension payments has ‘long-term cost
https://www.sfgate.com/news/article/Whitmer-Delaying-pension-payments-has-long-term-14273597.php

https://fox17online.com/2019/08/01/whitmer-delaying-pension-payments-has-long-term-cost/

Real Estate Drages Down Returns for Largest U.S. Pension Fund
https://www.costar.com/article/2113795534/real-estate-drags-down-returns-for-largest-us-pension-fund

Dignity Health agrees to $100M settlement in pension case
https://www.beckershospitalreview.com/legal-regulatory-issues/dignity-health-agrees-to-100m-settlement-in-pension-case.html

Proposition 106 is the wrong answer to Phoenix’s pension debt
https://www.azcentral.com/story/opinion/editorial/2019/08/01/proposition-106-wrong-answer-phoenix-pension-debt/1883879001/

Column: Pension crisis reaches beyond workers, businesses
https://www.dispatch.com/opinion/20190801/column-pension-crisis-reaches-beyond-workers-businesses

July 30, 2019

CALIFORNIA NEWS

CalPERS In-State Investment Program is Up More than 11%
https://www.ai-cio.com/news/calpers-state-investment-program-11/

NATIONAL NEWS

Ultralow Interest Rates Bring Opportunity and Danger to States
https://www.bloomberg.com/news/articles/2019-07-29/ultralow-interest-rates-bring-states-opportunity-and-danger

Falling Bond Yields Push Model U.S. Pension Funded Status Lower
https://www.ai-cio.com/news/falling-bond-yields-push-model-us-pension-funded-status-lower/

The FedEx Pension Twist: Borrow at Low Rates to Boost and Underfunded Plan
https://www.barrons.com/articles/fedex-underfunded-pension-plans-borrowing-bonds-interest-rates-federal-reserve-pbgc-fee-51564428891

Top 10 Largest Public Pension funds in the World
https://www.valuewalk.com/2019/07/top-10-largest-public-pension-funds/

Illinois Pension Buyout Program Delivers Just 3% of Projected Savings
https://www.illinoispolicy.org/illinois-pension-buyout-program-delivers-just-3-of-projected-savings/

Lawmakers hear warning about PERA fund

https://www.abqjournal.com/1346646/lawmakers-hear-warning-about-pera-fund.html

Kentucky Health Departments face Tough Choices After Passage of Pension Bill
https://www.wkyufm.org/post/kentucky-health-departments-face-tough-choices-after-passage-pension-bill#stream/0

Leaders React to Pension Legislation
https://www.messenger-inquirer.com/news/local/leaders-react-to-pension-legislation/article_56058b34-c3a3-5042-81a8-01d923b27176.html

July 24, 2019

CALIFORNIA NEWS

Another California pension fund falls just short of its investment return target
https://www.sacbee.com/news/politics-government/the-state-worker/article233019757.html

California tightens rules for going back to work after CalPERS disability retirement
https://www.sacbee.com/news/politics-government/the-state-worker/article232911787.html

Local representatives, residents gather for second annual State of the State
https://signalscv.com/2019/07/local-representatives-residents-gather-for-second-annual-state-of-the-state/

NATIONAL NEWS

10 Reasons Today’s Retirees Are Relying on Social Security
https://finance.yahoo.com/news/10-reasons-today-retirees-relying-090718311.html

Chase for Yield Has Fueled Private Equity With Significant Consequences for Americans
https://www.forbes.com/sites/mayrarodriguezvalladares/2019/07/23/chase-for-yield-has-fueled-private-equity-with-significant-consequences-for-americans/#6b08276919d8

United States: US Pensions Funds Show Increasing Allocations to PE Companies
http://www.mondaq.com/unitedstates/x/828830/Corporate+Commercial+Law/US+Pension+Funds+Show+Increasing+Allocations+To+PE+Companies

Pension Bill Designed to Shore up Multiemployer Plans
https://www.treasuryandrisk.com/2019/07/23/pension-bill-could-add-70-billion-in-group-annuity-sales-411-20904/?slreturn=20190624004011

Ky. Will Use Surplus to Fund Retired Teachers’ Health Plan — Here’s why it matters
https://wfpl.org/ky-will-use-surplus-to-fund-retired-teachers-health-plan-heres-why-it-matters/

Another Bill would make sex offenders ineligible for federal pensions
https://www.fedsmith.com/2019/07/23/another-bill-would-make-sex-offenders-ineligible-federal-pensions/

State Attorney OKs Wasteful Double-Dipping in Office, Blames Parkland Case
https://www.miaminewtimes.com/news/broward-state-attorney-michael-satz-lets-top-employees-double-dip-into-pensions-11222295

July 23, 2019

CALIFORNIA NEWS

California tightens rules for going back to work after CalPERS disability retirement
https://www.sacbee.com/news/politics-government/the-state-worker/article232911787.html

Why you should care about a pension vote in California
https://www.chicagobusiness.com/crains-forum-pensions/why-you-should-care-about-pension-vote-california

NATIONAL NEWS

Savings from Illinois pension buyback program fall far short of projections
https://www.chicagotribune.com/politics/ct-illinois-pension-buyback-savings-20190722-gd7k42mvrba3rduleimr3cnsu4-story.html

New Maryland Law Requires State Pension to Reveal All Fees
https://www.ai-cio.com/news/new-maryland-law-requires-state-pension-reveal-fees/

Bevin’s Pension Bill Passes Out of Kentucky House, Democrats Raise Concerns
https://www.wvxu.org/post/bevin-s-pension-bill-passes-out-kentucky-house-democrats-raise-concerns#stream/0

July 22, 2019

CALIFORNIA NEWS

See the 100 highest pensions in the CalPERS and CalSTRS systems
https://www.sacbee.com/news/politics-government/the-state-worker/article232923237.html

The future isn’t so golden for California’s next wave of retirees
https://www.universityofcalifornia.edu/news/future-isn-t-so-golden-california-s-next-wave-retirees

Sales tax plus marijuana proves to be a winning combination in Port Hueneme
https://www.vcstar.com/story/news/local/communities/port-hueneme/2019/07/20/california-marijuana-sales-tax-port-hueneme/1740722001/

Gov. Newsom vetoes legislation raising sales-tax cap in Scotts Valley, Emeryville
https://www.mercurynews.com/2019/07/19/newsom-vetoes-legislation-raising-sales-tax-cap-in-scotts-valley-emeryville/

Teachers deserve to know their Janus rights
https://www.ocregister.com/2019/07/21/teachers-deserve-to-know-their-janus-rights/

NATIONAL NEWS

Why Public Pensions are Taking More Risk
https://www.institutionalinvestor.com/article/b1gbvd4x1x3xjp/Why-Public-Pensions-Are-Taking-More-Risk

3 other states, numerous public pension funds aiming to profit off legal weed in Illinois
https://chicago.suntimes.com/2019/7/19/20701384/recreational-marijuana-illinois-investments-state-governments-public-employee-pensions

Warren Legislation Would Publicize Private Equity Fees and Returns, and Tighten Pension Obligations
https://www.ai-cio.com/news/warren-legislation-publicize-private-equity-fees-returns/

New York State Teachers’ Pension Invests in Companies That Operate ICE Centers
https://www.barrons.com/articles/new-york-state-teachers-pension-ice-centers-retirement-51563554811

Nevada Public Employment Retirement System earns 8.5 percent return
https://www.nnbusinessview.com/news/nevada-public-employee-retirement-system-earns-8-5-percent-return/

More fiscal clouds looming in N.J.
https://www.app.com/story/opinion/editorials/2019/07/20/nj-pensions-arbitration-cap-police-salaries/1778539001/

Township Wants Higher Taxes to Pay for Optional Employment Benefit
https://www.mackinac.org/township-wants-higher-taxes-to-pay-for-optional-employment-benefit

Playing politics with paychecks and pensions
https://www.kentuckynewera.com/web/article_008e6f45-1b5a-5822-bd4f-c98ed6d1f272.html

Pensions devour towns
https://www.newstimes.com/opinion/article/Pensions-devour-towns-14109170.php

July 18, 2019

CALIFORNIA NEWS

Valley Voice: With prudent, diligent efforts, CalPERS can meet its obiligations to reitrees
https://www.desertsun.com/story/opinion/contributors/valley-voice/2019/07/16/valley-voice-prudent-diligent-work-revitalize-calpers-pension-system/1744813001/

NATIONAL NEWS

Bringing back retired teachers offers benefits, challenges
https://www.educationdive.com/news/bringing-back-retired-teachers-offers-benefits-challenges/558687/

How Mike Pence Became a Millionaire from Government Pensions
https://www.forbes.com/sites/chasewithorn/2019/07/18/how-mike-pence-became-a-millionaire-from-government-pensions/#3d6118034835

Some Good News on Multiemployer Pensions
https://www.forbes.com/sites/ebauer/2019/07/17/some-good-news-on-multiemployer-pensions/#497117f46f4c

Treasury bars early access to pension money
https://www.nation.co.ke/news/Treasury-bars-early-access-to-pension-money/1056-5198730-15cxsagz/index.html

Illinois State Lawmakers Among the Highest Paid in Nation
https://www.illinoispolicy.org/illinois-state-lawmakers-among-highest-paid-in-nation/

Buncombe paid $1.7M extra for pensions. High salaries, employee perks are to blame.
https://www.citizen-times.com/story/news/local/2019/07/18/buncombe-tops-north-carolina-pension-spiking-list-due-high-salaries-bonuses-wanda-greene-corruption/1109022002/

Pension reform: PCS warns trust in Treasury is low as Truss promises talks
https://www.civilserviceworld.com/articles/news/pension-reform-pcs-warns-trust-treasury-low-truss-promises-talks

Wall Street agency warns CT’s battle with pension debt is far from over
https://ctmirror.org/2019/07/17/wall-street-agency-warns-cts-battle-with-pension-debt-is-far-from-over/

Hampshire Council of Governments’ insurance, pension payments in question
https://www.gazettenet.com/Questions-loom-over-Hampshire-Council-of-Governments-insurance-pensions-27072390

July 11, 2019

CALIFORNIA NEWS

Portola Valley school district’s budget sound, but $1.2 million in cuts may come if parcel tax isn’t renewed
https://www.almanacnews.com/news/2019/07/09/portola-valley-school-districts-budget-sound-but-12-million-in-cuts-may-come-if-parcel-tax-isnt-renewed

NATIONAL NEWS

When Millions Can’t Afford to Retire, the U.S. Needs a Better Option
https://www.theatlantic.com/ideas/archive/2019/07/public-option-can-ease-retirement-crisis/593722/

Millions in US taxpayers’ money invested in private prison firms
https://www.theguardian.com/us-news/2019/jul/11/private-prison-firms-profiting-trump-immigration-policy

Public Pensions Pour Millions into Private Prison Companies
https://documentedny.com/2019/07/11/public-pensions-pour-millions-into-private-prison-companies/

Miami Commissioner Proposes Rule That COuld Conveniently Give Him Early Pension
https://www.miaminewtimes.com/news/miami-commissioner-keon-hardemon-could-give-himself-early-pension-11215986

Colorado Editorial Roundup
https://www.thestate.com/news/business/article232505457.html

Kentucky House Leader: Special Legislative Session Likely for July 19
https://www.wkyufm.org/post/kentucky-house-leader-special-legislative-session-likely-july-19#stream/0

Legislative Update: Public Pensions Remain a Topic of Discuss
https://www.sentinel-echo.com/opinion/columns/legislative-update-public-pensions-remain-a-topic-of-discussion/article_6c5946f3-d717-5d66-955c-2b18ba37ad43.html

Gov. Cuomo says he has to look into St. Clare’s pensions after calls for action
https://www.news10.com/news/local-news/gov-cuomo-says-he-has-to-look-into-st-clares-pensions-after-calls-for-action/

Fired ex-Mesa police Officer Philip Brailsford rehired to help him get a public-safety pension
https://www.azcentral.com/story/news/local/mesa/2019/07/10/mesa-police-officer-philip-brailsford-rehired-pension-daniel-shaver-shooting/1698540001/

July 10, 2019

CALIFORNIA NEWS

California’s second largest pension fund says Trump’s tweets are a market risk
https://www.sacbee.com/news/politics-government/the-state-worker/article232473142.html

Judge Unlikely to Block Cap on Temp Work by Retired California Judges
https://www.courthousenews.com/judge-unlikely-to-block-cap-on-temp-work-by-retired-california-judges/

NATIONAL NEWS

Setting the record straight about American’s multiemployer pension crisis
https://thehill.com/opinion/finance/451824-setting-the-record-straight-about-americas-multiemployer-pension-crisis

Miami commissioners might restore the publicly funded pensions they lost a decade ago
https://www.miamiherald.com/news/local/community/miami-dade/article232240147.html

Chicago Pensions Are no longer 27% funded (it’s now 23%)
https://www.forbes.com/sites/ebauer/2019/07/08/chicago-pensions-are-no-longer-27-funded-its-now-23/#3d23ae678ed6

This new law makes the pension hole deeper. Here’s how.
https://www.chicagobusiness.com/greg-hinz-politics/new-law-makes-pension-hole-deeper-heres-how

July 8, 2019

California Stories

California cities, counties spent $4 billion on overtime in 2018 (OC Register)
https://www.ocregister.com/2019/07/08/california-cities-counties-spent-4-billion-on-overtime-in-2018/

National Stories

Editorial: An age-old topic that the legislature doesn’t address (Journal Inqurier (Connecticut)
https://www.journalinquirer.com/public/an-age-old-topic-that-the-legislature-doesn-t-address/article_617dc67c-9f0d-11e9-9e86-3f7a0e2b6045.html

Gov. Pritzker still looking at pension fix (State Journal-Register)
https://herald-review.com/news/state-and-regional/govt-and-politics/gov-pritzker-still-looking-at-pension-fix/article_f0bbcca8-c73f-55b7-a8fb-26afa3e608f6.html

Phoenix voters could fundamentally change the city in August. Why is no one campaigning? (Arizona Republic)
https://www.azcentral.com/story/news/local/phoenix/2019/07/08/phoenix-august-election-could-greatly-alter-light-rail-pensions/1586646001/

New law requires Maryland pension system to disclose millions in fees paid to Wall Street firms (Baltimore Sun)
https://www.baltimoresun.com/news/investigations/bs-md-pension-fund-20190705-story.html

New road-funding scheme: Issue $10B in teacher pension debt to free up cash (Crain’s Detroit Business)
https://www.crainsdetroit.com/voices-chad-livengood/new-road-funding-scheme-issue-10b-teacher-pension-debt-free-cash

Class action pension suit filed against Corteva, DuPont (Delaware Business Now)
https://delawarebusinessnow.com/2019/07/class-action-pension-suit-filed-against-corteva-dupont/

July 5, 2019

California Stories

California is requiring firms to offer retirement plans for workers. N.J. and Pa. are still pondering it. (Philadephia Inqurier)
https://www.inquirer.com/business/state-sponsored-retirement-plans-california-pennsylvania-new-jersey-20190705.html

Dan Walters: New state budget a windfall for unions (CalMatters)
https://calmatters.org/articles/commentary/new-state-budget-a-windfall-for-unions/

Upland’s revenues grow, outpacing increased pension costs (Daily Bulletin)
https://www.dailybulletin.com/2019/07/03/uplands-revenues-grow-outpacing-increased-pension-costs/

National Stories

Gov. Pritzker still looking at pension fix (State Journal-Register)
https://www.sj-r.com/news/20190704/gov-pritzker-still-looking-at-pension-fix

Op-Ed: Chicago pension bailout isn’t the solution, reform is (The Center Square)
https://www.thecentersquare.com/illinois/op-ed-chicago-pension-bailout-isn-t-the-solution-reform/article_c818a7a2-9da6-11e9-ba27-8b32d61345bf.html

Bank Of America Divests from Private Prisons; Your 401K May Be a Different Story (Yahoo)
https://finance.yahoo.com/news/bank-america-divests-private-prisons-203713312.html

Report highlights US pension shortfall (Public Finance International)
https://www.publicfinanceinternational.org/news/2019/07/report-highlights-us-pension-shortfall

July 2, 2019

California Stories

Worried about retiring? California will help you save money (LA Times)
https://www.latimes.com/business/la-fi-retirement-savings-california-20190701-story.html

Workers in California are one step closer to retirement security (Market Watch)
https://www.marketwatch.com/story/workers-in-california-are-one-step-closer-to-retirement-security-2019-07-01

It’s about to get easier for millions of California workers to save for retirement (Business Insider)
https://www.beaumontenterprise.com/technology/businessinsider/article/It-s-about-to-get-easier-for-millions-of-13425570.php

National Stories

Hedge fund, IPI chief sue Pritzker to void $14 billion of state debt (Crain’s Chicago Business)
https://www.chicagobusiness.com/government/hedge-fund-ipi-chief-sue-pritzker-void-14-billion-state-debt

Lightfoot still pressing for state bailout (Capitol Fax)
https://capitolfax.com/2019/07/01/lightfoot-still-pressing-for-state-bailout/

EDITORIAL: New mayor, governor had better be pulling together (Chicago Sun Times)
https://chicago.suntimes.com/2019/7/1/20677346/mayor-lori-lightfoot-governor-j-b-pritzker-pension-crisis-28-billion

Gov. Phil Murphy: After losing that budget fight he’s not making history; he is history | Mulshine (NJ.com)
https://www.nj.com/opinion/2019/07/gov-phil-murphy-after-losing-that-budget-fight-hes-not-making-history-he-is-history-mulshine.html

Public safety pension plan costs hurting county (Parker Pioneer (Ariz.)
https://www.parkerpioneer.net/news/article_bb701b74-9c53-11e9-8ba7-7b32af3242c6.html

July 1, 2019

California Stories

This time CalPERS plans for stock market drop (Calpensions)
https://calpensions.com/2019/07/01/this-time-calpers-plans-for-stock-market-drop/

Grand jury: Vacaville retiree benefit package ‘not sustainable’ (Fairfield Daily Republic)
https://www.dailyrepublic.com/all-dr-news/solano-news/vacaville/grand-jury-vacaville-retiree-benefit-package-not-sustainable/

Riverside passes budget without cuts but eyes ‘insolvency’ in 2023 (Riverside Press Enterprise)
https://www.pe.com/2019/06/28/riverside-passes-budget-without-cuts-but-eyes-insolvency-in-2023/

Grand jury tells Upland it’s time to get serious about a plan to fund pensions
https://www.dailybulletin.com/2019/06/28/grand-jury-tells-upland-its-time-to-get-serious-about-a-plan-to-fund-pensions/

National Stories

Pension Crisis Deepens in U.S. as Strategies Shift, Outlooks Dim (Bloomberg)
https://www.bloomberg.com/news/articles/2019-06-28/pension-crisis-deepens-as-strategies-shift-outlooks-dim-chart

EDITORIAL: Why government pension plans are failing and what to do about it (Las Vegas Review Journal)
https://www.reviewjournal.com/opinion/editorials/editorial-why-government-pension-plans-are-failing-and-what-to-do-about-it-1698110/

NJ budget 2019: Murphy signs budget, narrowly avoiding a government shutdown (North Jersey Record)
https://www.northjersey.com/story/news/new-jersey/2019/06/30/nj-budget-2020-murphy-signs-budget-avoid-nj-government-shutdown/1527731001/

June 25, 2019

California Stories

Getting ready for recession, California’s $215 billion budget fills reserves. But is it enough? (Sacramento Bee)
https://www.sacbee.com/news/politics-government/capitol-alert/article231768688.html

CEO of huge L.A. County pension fund ousted amid tensions and questions (LA Times)
https://www.latimes.com/local/countygovernment/la-me-county-retirement-association-lou-lazatin-20190624-story.html

National Stories

About 18 percent of public employee retirees move out of state (Capitol Fax)
https://capitolfax.com/2019/06/24/about-18-percent-of-public-employee-retirees-move-out-of-state/

June 21, 2019

California Stories

Spotlight On California Pension Funds As Climate Risk Reporting Deadline Approaches (Value Walk)
https://www.valuewalk.com/2019/06/california-pension-funds-climate-related-financial-risk/

San Diego Unified teachers to get 4% pay increase with new contract (San Diego Union Tribune)
https://www.sandiegouniontribune.com/news/education/story/2019-06-20/san-diego-unified-teachers-to-get-4-pay-increase-with-new-contract

National Stories

WITH VOTES TO SPARE, DEMS PASS $38.7B BUDGET, NO BOOST IN MILLIONAIRES TAX (NJ Spotlight)
https://www.njspotlight.com/stories/19/06/20/with-votes-to-spare-dems-pass-38-7b-budget-with-no-boost-in-millionaires-tax/

Pritzker praises pension buyout program, backs public safety pension consolidation (The Center Square Illinois)
https://www.thecentersquare.com/illinois/pritzker-praises-pension-buyout-program-backs-public-safety-pension-consolidation/article_b8b1b3a2-937f-11e9-b894-0fb7f3e9b8be.html

Convicted ex-sheriff won’t get a pension, saving taxpayers $1.6 million (WHYY)
https://billypenn.com/2019/06/20/convicted-ex-sheriff-wont-get-a-pension-saving-taxpayers-1-6-million/

June 20, 2019

California Stories

Editorial: Oregon shows pension reform within reach (San Diego Union Tribune)
https://www.sandiegouniontribune.com/opinion/editorials/story/2019-06-14/oregon-pension-reform-california-calpers-3-billion

CalPERS pensions mostly restored for retirees who sued after losing promised income (Sacramento Bee)
https://www.sacbee.com/news/politics-government/the-state-worker/article231750978.html

Santa Maria Looks to Add Public Safety Jobs Amid Bleak News from CalPERS (Noozhawk)
https://www.noozhawk.com/article/santa_maria_looks_to_add_public_safety_jobs_amid_bleak_news_from_calpers

CalPERS officials consider using leverage on portfolio in an economic downturn (Pensions & Investments)
https://www.pionline.com/pension-funds/calpers-officials-consider-using-leverage-portfolio-economic-downturn

 

National Stories

The best and worst examples of public pension oversight (Patch)
https://patch.com/illinois/across-il/best-worst-examples-public-pension-oversight

Concerns over pensions grow as deadline nears (Spectrum News Kentucky)
https://spectrumnews1.com/ky/lexington/news/2019/06/19/the-concern-over-pensions-grow-as-july-1-deadline-approaches

Rhode Island newspaper takes jab at Connecticut in editorial, calls state ‘a sea of dysfunction’ (Hartford Courant)
https://www.courant.com/politics/capitol-watch/hc-pol-connecticut-sea-of-dysfunction-20190619-fuqigjl3tvguxlzv27rata4iha-story.html

Decision Could Change Illinois’ Pension Protections (Alton Daily News)
http://altondailynews.com/news/details.cfm?clientid=17&id=286251#.XQujB9NKjVo

Editorial: NJ fights Janus ruling for government unions, not the public (Press of Atlantic City)
https://www.pressofatlanticcity.com/opinion/editorials/nj-fights-janus-ruling-for-government-unions-not-the-public/article_ce33c889-648e-537d-b492-978d8c5158e5.html

Column: How many collecting Illinois pensions have moved to other states, and how much did they take with them? (Daily Herald)
https://www.dailyherald.com/news/20190620/how-many-collecting-illinois-pensions-have-moved-to-other-states-and-how-much-did-they-take-with-them

June 19, 2019

California Stories

New state-run IRA for private sector opens July 1 (Capitol Weekly)
https://capitolweekly.net/new-state-run-ira-for-private-sector-opens-july/

CalPERS health insurance will cost more next year, but not as much more as insurers wanted (Sacramento Bee)
https://www.sacbee.com/news/politics-government/the-state-worker/article231702953.html

CalPERS enlists in trust to pre-fund contributions (Pensions & Investments)
https://www.pionline.com/pension-funds/calpers-enlists-trust-pre-fund-contributions

National Stories

Teacher Tensions Fuel Kentucky Governor’s Race (Education Week)
https://www.edweek.org/ew/articles/2019/06/19/teacher-tensions-fuel-kentucky-governors-race.html

Democrats dismiss Murphy’s ‘progressive’ priorities (NJ Today)
http://njtoday.net/2019/06/18/democrats-dismiss-murphys-progressive-priorities/

Rhode Island gives pension-cutters a ray of hope here (Capitol Fax)
https://capitolfax.com/2019/06/18/rhode-island-gives-pension-cutters-a-ray-of-hope-here/

Editorial: Cautionary tale from Connecticut (Providence Journal)
https://www.providencejournal.com/opinion/20190618/editorial-cautionary-tale-from-connecticut

Murphy promises to veto extension of tax credits, less clear on budget (Burlington County Times)
https://www.burlingtoncountytimes.com/news/20190618/murphy-promises-to-veto-extension-of-tax-credits-less-clear-on-budget

June 18, 2019

California Stories

Borenstein: CalPERS must stop transit workers’ pension windfall (San Jose Mercury News)
https://www.mercurynews.com/2019/06/18/borenstein-calpers-must-end-transit-workers-pension-windfall/

‘No evident justification‘ for California prison guard raises in contract, analyst warns (Sacramento Bee)
https://www.sacbee.com/news/politics-government/the-state-worker/article231649048.html

Marin County’s budget set for final vote (Marin Independent Journal)
https://www.marinij.com/2019/06/17/marin-countys-budget-set-for-final-vote/

Column: Parks, Parking and Pensions (Santa Monica Daily Press)
https://www.smdp.com/whats-the-point-parks-parking-and-pensions/176504

National Stories

Pritzker’s claims of paying down pension debt “simply dishonest,” fiscal watchdog says (Prairie State Wire)
https://prairiestatewire.com/stories/512629028-pritzker-s-claims-of-paying-down-pension-debt-simply-dishonest-fiscal-watchdog-says

NJ Democrats introduce $38.7 billion state budget (Burlington County Times)
https://www.burlingtoncountytimes.com/news/20190617/nj-democrats-introduce-387-billion-state-budget

June 14, 2019

California Stories

Riverside County pension costs could rise by $280.5M by 2023 (Riverside Press Enterprise)
https://www.pe.com/2019/06/13/riverside-county-pension-costs-could-rise-by-280-5m-by-2023/

COMMENTARY California Teachers May Need Help to Avoid Retirement Savings Traps (Reason Foundation)
https://reason.org/commentary/california-teachers-may-need-help-to-avoid-retirement-savings-traps/

CalPERS commits $1.5 billion to 2 infrastructure funds (Pensions & Investments)
https://www.pionline.com/searches-and-hires/calpers-commits-15-billion-2-infrastructure-funds

National Stories

401(k)s can fill the pension gap (The Hill)
https://thehill.com/opinion/finance/448431-401ks-can-fill-the-pension-gap

Op-ed: Borrowing from our children (Connecticut Mirror)
https://ctmirror.org/category/ct-viewpoints/borrowing-from-our-children-for-our-retirement/

Unions rally outside of the Statehouse for millionaires tax (Burlington County Times)
https://www.burlingtoncountytimes.com/news/20190613/unions-rally-outside-of-statehouse-for-millionaires-tax

NEW JERSEY CONFRONTS PENSION CRISIS AS NO. 1 ILLINOIS DITHERS (Illinois Policy)
https://www.illinoispolicy.org/no-2-new-jersey-confronts-pension-crisis-as-no-1-illinois-dithers/

NJBIA Supports First Round of Path to Progress Bills Advancing in Legislature (Insider NJ)
https://www.insidernj.com/press-release/njbia-supports-first-round-path-progress-bills-advancing-legislature/

Laurel County Health Department, among other organizations, threatened by new pension laws (Sentinel Echo (Kent.)
https://www.sentinel-echo.com/news/local_news/laurel-county-health-department-among-other-organizations-threatened-by-new/article_1e665a10-9888-514f-b5ba-01f1a8ffdc1a.html

 

June 13, 2019

California Stories

Gavin Newsom’s budget aims to spare California schools from some pension pain (Sacramento Bee)
https://www.sacbee.com/news/politics-government/capitol-alert/article231457468.html

OPINION The public agenda should trump the public sector union agenda (OC Register)
https://www.ocregister.com/2019/06/12/the-public-agenda-should-trump-the-public-sector-union-agenda/

Increasing pension costs, possible loss of Measure G creating deficit (Watsonville Register Pajaronian)
https://register-pajaronian.com/article/city-to-start-making-reductions-across-board

As New Jersey cuts hedge fund ties, CalPERS’ experience shows that can take years (Pensions & Investments)
https://www.pionline.com/article/20190612/ONLINE/190619931/as-new-jersey-cuts-hedge-fund-ties-calpers-experience-shows-that-can-take-years

National Stories

Pritzker gambles on new direction (Illinois Times)
https://illinoistimes.com/article-21322-pritzker-gambles-on-new-direction.html

June 11, 2019

California Stories

Open Forum: Unfunded pensions are hurting California students and teachers (San Francisco Chronicle)
https://www.sfchronicle.com/opinion/openforum/article/Open-Forum-Unfunded-pensions-are-hurting-13966938.php?psid=WIJO

The City Flipped on Prop. B – But it Doesn’t Change Much Yet (Voice of San Diego)
https://www.voiceofsandiego.org/topics/government/the-city-flipped-on-prop-b-but-it-doesnt-change-much-yet/

Council Votes 6-3 to Help Unions Overturn San Diego Pension Reform (Times of San Diego)
https://timesofsandiego.com/politics/2019/06/10/council-votes-6-3-to-help-unions-overturn-san-diego-pension-reform/

California retirees’ pensions restored — at least partially — after CalPERS cuts (Sacramento Bee)
https://www.sacbee.com/news/politics-government/the-state-worker/article231408658.html

Editorial: Pension reform isn’t happening fast enough (Marin Independent Journal)
https://www.marinij.com/2019/06/10/editorial-pension-reform-isnt-happening-fast-enough/

Did CalPERS mislead policyholders on long-term care insurance? Trial begins on a $1.2 billion lawsuit (Sacramento Bee)
https://www.sacbee.com/news/politics-government/the-state-worker/article231329758.html?

National Stories

Editorial: PERS reform reasonable (Ashland Tidings)
https://ashlandtidings.com/opinion/editorial/pers-reform-reasonable

Op-ed: Murphy vs. Sweeney: The lowdown on the showdown in Trenton (NJ.com)
https://www.nj.com/opinion/2019/06/murphy-vs-sweeney-the-lowdown-on-the-showdown-in-trenton-mulshine.html

June 10, 2019

California Stories

Editorial: San Diego needs to take another swing at pension issue — but this time do it right (San Diego Union Tribune)
https://www.sandiegouniontribune.com/opinion/editorials/story/2019-06-07/san-diego-pension-prop-b-faulconer

Glendale officials allocate nearly $25M for affordable housing in new budget (Glendale News-Press)
https://www.latimes.com/socal/glendale-news-press/news/tn-gnp-me-glendale-budget-affordable-housing-20190607-story.html

How Inglewood sidestepped voters when it took on millions in debt to cover up a deficit, then gave raises for executives (Pasadena Star News)
https://www.ocregister.com/2019/06/07/how-inglewood-sidestepped-voters-when-it-took-on-millions-in-debt-to-cover-up-a-deficit-help-fund-raises-for-executives/

Infrastructure investing ‘evolution not revolution’ for CalSTRS, official says (Pensions & Investments)
https://www.pionline.com/article/20190607/ONLINE/190609895/infrastructure-investing-evolution-not-revolution-for-calstrs-official-says

National Stories

New Jersey’s Health-Care Debt Jumped So Much It Rivals Pension Obligations (Bloomberg)
https://www.bloomberg.com/news/articles/2019-06-06/new-jersey-s-health-care-debt-jumped-so-much-it-rivals-pensions

Opinion: Two cheers for the Legislature’s PERS reform package (The Oregonian)
https://www.oregonlive.com/opinion/2019/06/opinion-two-cheers-for-the-legislatures-pers-reform-package.html

Column: Pritzker gambles on new direction for Illinois (Sauk Valley)
https://www.saukvalley.com/2019/06/07/pritzker-gambles-on-new-direction-for-illinois/a5ajdtn/

Democrats face angry union members after tough vote to cut pensions (Salem Reporter)
https://www.salemreporter.com/posts/847/democrats-face-angry-union-members-after-tough-vote-to-cut-pensions

More Cautionary Tales From Illinois: Tier II Pensions (And Why Actuaries Matter) (Forbes)
https://www.forbes.com/sites/ebauer/2019/06/07/more-cautionary-tales-from-illinois-tier-ii-pensions-and-why-actuaries-matter/#4805d21b19f7

Chicago’s Road to Dystopia Is Paved with Public-Pension Promises (Independent Institute)
https://blog.independent.org/2019/06/07/chicagos-road-to-dystopia-is-paved-with-public-pension-promises/

Editorial: The price you pay for guaranteed public employee pensions (Verde Independent (Ariz.)
http://www.verdenews.com/news/2019/jun/08/editorial-price-you-pay-guaranteed-public-employee/

June 6, 2019

California Stories

Union: No progress in contract talks with grocery leaders, vows to ‘do what they have to do’ (Riverside Press Enterprise)
https://www.pe.com/2019/06/05/union-no-progress-in-contract-talks-with-grocery-leaders-vows-to-do-what-they-have-to-do/

Red Rock’s All-White, All-Male Board Draws Calpers’ Attention (Bloomberg)
https://www.bloomberg.com/news/articles/2019-06-05/red-rock-s-all-white-all-male-board-draws-calpers-attention

National Stories

PRITZKER BUDGET LIFTS CAP ON PENSION SPIKING (Illinois Policy)
https://www.illinoispolicy.org/pritzker-budget-lifts-cap-on-pension-spiking/

Op-ed: PUBLIC EMPLOYEE PENSIONS NOW SHROUDED IN SECRECY (Mesquite Local News)
https://mesquitelocalnews.com/2019/06/06/public-employee-pensions-now-shrouded-in-secrecy/

Connecticut closes $3.7 billion deficit without income-tax hike (Bloomberg)
https://www.bondbuyer.com/articles/connecticut-closes-37-billion-deficit-without-income-tax-hike

Pensions for Mass. State Police troopers sentenced in OT scandal expected to go under review soon; One trooper already had pension suspended (Mass Live)
https://www.masslive.com/boston/2019/06/pensions-for-mass-state-police-troopers-sentenced-in-ot-scandal-expected-to-go-under-review-soon-one-trooper-already-had-pension-suspended.html

June 4, 2019

California Stories

New state-run IRA for private sector opens July 1 (Calpensions)
https://calpensions.com/2019/06/03/new-state-run-ira-for-private-sector-opens-july-1/

City Hall Faces Big Pension Decision (Voice of San Diego)
https://www.voiceofsandiego.org/topics/politics/politics-report-city-hall-faces-big-pension-decision/

CalSTRS’s Plan to Reduce Fees (Equities)
https://www.equities.com/news/calstrs-s-plan-to-reduce-fees

New data released on Marin pension payouts (Marin Independent Journal)
https://www.marinij.com/2019/05/31/new-data-released-on-marin-pension-payouts/

City budget has few surprises, but Council wary of future expenses (Martinez News-Gazette)
https://martinezgazette.com/city-budget-has-few-surprises-but-council-wary-of-future-expenses/

National Stories

$5.2 Trillion Of Government Pension Debt Threatens To Overwhelm State Budgets, Taxpayers (Forbes)
https://www.forbes.com/sites/chuckdevore/2019/05/31/5-2-trillion-of-government-pension-debt-threatens-to-overwhelm-state-budgets-taxpayers/#22c95f81759d

Legal protections for public-sector pension benefits vary widely – Pew research (Pensions & Investments)
https://www.pionline.com/article/20190603/ONLINE/190609988/legal-protections-for-public-sector-pension-benefits-vary-widely-8211-pew-research

Local taxpayers exposed as Illinois local governments lose control over pension eligibility (North Cook News)
https://northcooknews.com/stories/512583691-local-taxpayers-exposed-as-illinois-local-governments-lose-control-over-pension-eligibility

Op-ed: A line in the sand will be no day at the beach for Gov. Murphy (NJ.com)
https://www.nj.com/opinion/2019/06/a-line-in-the-sand-will-be-no-day-at-the-beach-for-gov-murphy-mulshine.html

Oregon Pension Reform Squeaks Through Legislature (Chief Investment Officer)
https://www.ai-cio.com/news/oregon-pension-reform-squeaks-legislature/

Repeal of year-old limit on some state teacher pension liability slipped into the BIMP (Capitol Fax)
https://capitolfax.com/2019/06/03/repeal-of-limit-on-some-state-teacher-pension-liability-slipped-into-the-bimp/

Even After Stealing From the Public, Ex-School Officials Keep Their Pensions (NBC Dallas)
https://www.nbcdfw.com/investigations/Even-After-Stealing-From-the-Public-Ex-School-Officials-Keep-Their-Pensions-510695691.html

ons-for-disabled-workers