CalPERS recently approved a list of 99 “special pay items”, or bonuses given to workers whose jobs meet certain requirements. But a report from the Los Angeles Times suggests that CalPERS approved the items without knowing how much they would cost. From the LA Times: CalPERS repeatedly told The Times it didn’t know how much … Continue reading CalPERS May Have Approved Special Pay Items Without Doing The Math On Cost
This week, CalPERS approved 99 types of additional income that workers can include in their pension calculations. The change will increase the pensions of many workers in the CalPERS system, and the fund has already drawn flak from California Governor Jerry Brown. Now, the credit rating agency Fitch is in on the game, too. Fitch … Continue reading Fitch Weighs In On New CalPERS Compensation Rules
CalPERS is drafting new regulation that could boost worker pensions, but critics say the rules would fly in the face of much of Gov. Jerry Brown’s 2012 reform efforts. CalPERS is holding a public hearing on the issue tomorrow (Tuesday August 19) to seek the public’s feedback. The new regulations could increase pension benefits for … Continue reading CalPERS Is Proposing 98 Ways To Boost Member Pensions
Reporter Ed Mendel covered the California Capitol in Sacramento for nearly three decades, most recently for the San Diego Union-Tribune. More stories are at Calpensions.com CalPERS board member J.J. Jelincic, known for being reprimanded by fellow board members and asking frequent and detailed questions about agenda items, was expected to seek a third four-year term … Continue reading Maverick CalPERS Board Member Won’t Run Again
Leo Kolivakis is a blogger, trader and independent senior pension and investment analyst. This post was originally published at Pension Pulse. Matthew Cunningham-Cook of the International Business Times reports, At Chicago Pension Fund, Questions Raised On Conflicts of Interest: Chicago pension officials wanted to know where to deposit the $11 billion that the city’s teachers had … Continue reading Chicago’s Pension Conflicts?
Leo Kolivakis is a blogger, trader and independent senior pension and investment analyst. This post was originally published at Pension Pulse. Lefteris Papadimas and Angeliki Kountantou of Reuters report, Greece’s pension paradox: Many elderly are broke, despite government’s costly spending on system: The plight of 79-year-old Athenian Zina Razi and thousands like her strikes at the heart … Continue reading Greece’s Pension Paradox?
Leo Kolivakis is a blogger, trader and independent senior pension and investment analyst. This post was originally published at Pension Pulse. Bill Curry of the Globe and Mail reports, Liberals would encourage pension funds to invest in infrastructure: Enticing large pension funds to spend big on Canadian infrastructure projects will form a key part of the … Continue reading Opening Canada’s Infrastructure Floodgates?
Today CalPERS approved 99 types of “special pay”, or additional income that can be included in calculating a worker’s pension. California Governor Jerry Brown was receptive to most of the “special pay” items—except for one. But it was enough to compel him to send a letter to CalPERS urging the board not to approve the … Continue reading California Governor Calls Out CalPERS On Pension Tweak
