san bern

How Can Troubled California Cities Address Rising Pension Costs?

Matthew Covington penned a column for the Sacramento Bee on Thursday that dives into California’s recent spree of municipal bankruptcies — and postulates that, with pension costs rising, bankrupt cities of the future may not opt to preserve pensions the way Vallejo, Stockton and San Bernardino did. Covington is a managing director at Conway ...
san bern

Moody’s: Deals With CalPERS Will Further “Weaken” Bankrupt California Cities

Three California cities – Stockton, San Bernardino, and Vallejo – have declared bankruptcy in recent years. But all three have struck deals with CalPERS to keep its citizens’ pension benefits intact. That’s a win for pensioners, but Moody’s says the deals may not be healthy for the cities: they will have to pay large, rising contributions ...
640px-Flag_of_California.svg

University of California Considers Raising Tuition As Pension Liabilities Mount

The University of California is considering a plan that would raise tuition by 5 percent each of the next five years. If the plan is approved, the extra revenue will go, in part, towards paying down billions in unfunded liabilities associated with the University’s pension plan. From the Sacramento Bee: When the University of California Board of Regents ...
2246559455_198fcdd551_o

CalPERS Commits $100 Million to San Francisco Bay Apartment Developments

CalPERS has committed $100 million to the AGI Resmark Housing Fund, which invests in three apartment development sites in the San Francisco Bay area. More details from IPE Real Estate: CalPERS, which declined to comment, has now allocated a total of $300m into its emerging manager program for real estate, having previously backed Sack Properties and ...
5857709536_81151f8166_z

California Attorney: Bankruptcy “Not a Practical or Desirable” Way To Cut Pensions

Teague Paterson, an attorney from Sacramento specializing in labor law, has penned a column in Monday’s Sacramento Bee in which he explains his position that bankruptcy is “not a practical or desirable” way to cut pension benefits. From the column: Imagine for a moment that you have run into deep financial trouble and have decided to ...
640px-Flag_of_California.svg

New California Pension Data Now Online

California’s financial transparency website now features pension data on its state, county, and city-level pension systems. The site includes data on assets, liabilities, funding ratios, membership statistics and actuarially required contributions, among other things. More from MML News: State Controller John Chiang has just made over a decade’s ...
400px-Seal_of_California.svg

Think Tank: Blame Pension Costs For The 140 Tax Increases On California’s Ballot

When Californians go to vote on November 4, they will find a ballot stuffed with tax hikes. There will be 140 different proposed tax increases on ballots across California. Is there a reason behind the surge? Mark Bucher, president of the California Policy Center, thinks he knows the reason. In a new column he says voters need look no further than ...
640px-Road_Sign_Welcome_to_California

“Historic” Ruling Expected in Stockton Bankruptcy Case; Can A Bankrupt California City Cut Pensions?

Can a bankrupt California city legally reduce both its payments to CalPERS and the pension benefits it promised to its workers? Those are the questions that will likely be answered by the end of the day Wednesday in what’s already being called a “historic” ruling. From the Sacramento Bee: After months of buildup, U.S. Bankruptcy Judge Christopher ...
640px-Flag_of_California.svg

California Unveils Finance Data Website; Pension Data To Be Added Later

California has launched ByTheNumbers.sco.ca.gov, a website designed to give citizens easy access to financial data for every city and county in the state. The website, launched by Controller John Chiang, will eventually contain data for all of the more than 100 pension funds in California. That data will include investment returns, administrative costs, ...
Early retirements

17 States Considering State-Run Retirement Plans Aimed at Private Sector Workers

Many private-sector workers don’t have access to retirement plans through their employers, and states across the country are now trying to solve that issue. The trend has flown under the radar, but well over a dozen states are in the process of setting up (or brainstorming) a state-run retirement plan that caters to private-sector employees. From ...
Privacy Policy | © 2020 Pension360 and © 2014 Policy Data Institute | Site Admin · Entries RSS ·