In California, Another Ruling Says Pension Set At Hire Can Be Cut

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. A second appeals court panel has unanimously ruled that the public pension offered at hire can be cut without an offsetting new benefit, broadening support for what pension reformers ...

CalPERS Acts to Cut Earnings Forecast, Raise Rates

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. A key committee last week approved a drop in the often-criticized CalPERS investment earnings forecast, gradually raising record rates already being paid by state and local governments. ...

Cutting California Worker Debt Bigger Than 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. A new labor contract negotiated by the leaders of a 95,000-member California worker union has a pay raise that, an opposition group said last week, is more than offset by medical ...

California Supreme Court Agrees to Rule On Its Own 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. The California Supreme Court last week agreed to hear an appeal of a groundbreaking ruling that allows cuts in the pensions earned by current state and local government workers, ...

CalPERS, CalSTRS Considering More Rate Increases

Reporter Ed Mendel covered the Capitol in Sacramento for nearly three decades, most recently for the San Diego Union-Tribune. More stories are at Calpensions.com. The state’s two largest public pension systems never recovered from huge investment losses during the deep recession and stock market crash in 2008. CalPERS lost about $100 billion and CalSTRS ...

CalPERS Cuts Tiny Town’s Pensions By 60 Percent

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. Doing what it has never done before, the CalPERS board voted yesterday to slash the pensions of all five former employees of a small Sierra County town, Loyalton, by an estimated ...

Why Fresno, California Avoided Bankruptcy, Unlike Stockton

Reporter Ed Mendel covered the Capitol in Sacramento for nearly three decades, most recently for the San Diego Union-Tribune. More stories are at Calpensions.com. At a time when some are calling soaring state and local government pension debt a crisis, there is a notable outlier. The Fresno city pension system has been fully funded for at least a decade ...

Ruling Challenges Prevailing View of California Pension Law

Reporter Ed Mendel covered the Capitol in Sacramento for nearly three decades, most recently for the San Diego Union-Tribune. More stories are at Calpensions.com. Three appeals court justices, citing the alarming view of critics that public pensions are headed for the financial cliff, looked for a new way to allow a change in direction and found one. In ...

In A First, CalPERS May Cut Small Town’s Pensions

Reporter Ed Mendel covered the Capitol in Sacramento for nearly three decades, most recently for the San Diego Union-Tribune. More stories are at Calpensions.com. A CalPERS crackdown on employers that have not been paying into the pension fund could cut the pensions of all four retirees of a small Sierra County city, Loyalton, which stopped making its ...

In California, New Ruling Called ‘Existential Threat’ to Pensions

Reporter Ed Mendel covered the Capitol in Sacramento for nearly three decades, most recently for the San Diego Union-Tribune. More stories are at Calpensions.com. The views of two CalSTRS attorneys show how an appellate court ruling weakening the “California rule,” which prevents changes in the pension promised at the date of hire, has alarmed ...
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