Ed Mendel is a reporter who covered the Capitol in Sacramento for nearly three decades, most recently for the San Diego Union-Tribune. More stories are at Calpensions.com. Private equity firms have produced big profits for CalPERS, not to mention a pay-to-play scandal, while keeping a big share for themselves as an incentive — traditionally 20 … Continue reading In Depth: CalPERS Will Reveal Private Equity Share of Profits
Ed Mendel is a reporter who has covered the Capitol in Sacramento for nearly three decades, most recently for the San Diego Union-Tribune. More stories are at Calpensions.com An accounting board best known for requiring the calculation and reporting of the debt owed for retiree health care promised government workers, which often turned out to … Continue reading New Rules Try to Spotlight Hidden Retirement Debt
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 CalSTRS board voted this month to “watch” a new cost-neutral bill in Congress that would reduce what has been an unpleasant surprise for some teachers and a shock to others … Continue reading New Move to Reduce CalSTRS Social Security Cuts
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 pension reform initiative filed last week requires voter approval of termination fees, the big upfront payment demanded by CalPERS when a plan is closed to new members. CalPERS says it … Continue reading Initiative Alters CalPERS ‘Poison Pill': Big Exit Fees
Ed Mendel is a reporter who covered the Capitol in Sacramento for nearly three decades, most recently for the San Diego Union-Tribune. Find more of his stories at Calpensions.com. New state and local government employees hired in California on or after Jan. 1, 2019, could receive a 401(k)-style retirement plan under a proposed initiative — … Continue reading California Initiative Could Switch New Hires to 401(k) Plans
Ed Mendel is a reporter who covered the Capitol in Sacramento for nearly three decades, most recently for the San Diego Union-Tribune. Find more of his stories at Calpensions.com CalPERS is considering small increases in employer and employee rates over decades to reduce the risk of big investment losses, a policy that also would lower … Continue reading CalPERS Looks at Long-Term Rate Hike to Cut Risk
Ed Mendel is a reporter who covered the Capitol in Sacramento for nearly three decades, most recently for the San Diego Union-Tribune. Find more of his stories at Calpensions.com. The push back from schools hit with a huge CalSTRS rate increase, expected to be an additional $3.7 billion a year when fully phased in, is … Continue reading Schools Want Spotlight on CalSTRS Rate Hike
California lawmakers acted earlier this year to improve the funding status of CalSTRS. That means higher payments from school districts – and recent budget forecasts are forcing schools to examine how these payments will strain their budgets. From the San Diego Union Tribune: A state-mandated sched-ule for replenishing California’s cash-strapped teachers’ retirement fund means school … Continue reading Improving CalSTRS Funding Comes at Cost for School Districts
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
