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Continuing Public Pension Reforms Could Hurt the Economy
Headline: Dismantling Public Pensions Could Blow $3 Trillion Hole in U.S. Personal Income over Next Decade, NCPERS Warns
Publication: Business Wire
Article Date: May 24, 2017
“A study by the National Conference on Public Employee Retirement Systems (NCPERS) projects that the nation’s economy will suffer severe setbacks by the year 2025 if the dismantling of Defined Benefit (DB) public sector pensions continues at its current pace.” Read article…
California governor’s latest budget proposal doubles pension contribution to CalPERS
Headline: California governor’s latest budget proposal doubles pension contribution to CalPERS
Publication: Pensions & Investments
Article Date: May 11, 2017
“California Gov. Edmund G. “Jerry” Brown Jr. proposed a revised state budget Thursday [May 11th] that would double the state’s contribution to CalPERS to $11.8 billion from $5.8 billion for the fiscal year starting July 1.” Read article…
Despite Setback, California Leaders Push Ahead with State-Run Retirement Program for Private-Sector Workers
Headline: State officials contend California private-sector retirement plan on firm legal ground
Publication: Los Angeles Times
Article Date: May 18, 2017
“California officials vowed Thursday [May 18th] to implement a state-run retirement program that could benefit nearly 7 million private-sector workers despite recent congressional action that seeks to block it.” Read article…
Union will appeal San Diego pension cuts ruling to the Supreme Court
Headline: Union will appeal San Diego pension cuts ruling to the Supreme Court
Publication: San Diego Union-Tribune
Article Date: Apr 24, 2017
The fate of San Diego City’s 2012 pension cutbacks may be decided by the state Supreme Court now that the city’s largest labor union has voted to appeal a lower court ruling from early April. Read article…
Unions kill bill to cut cost-of-living increase for CalPERS pensions
Headline: Unions kill bill to cut cost-of-living increase for CalPERS pensions
Publication: Sacramento Bee
Article Date: Apr 25, 2017
“Public employee unions presented a united front on Monday [April 24] against a bill by Sen. John Moorlach that aimed to close California’s [CalPERS and CalSTRS] pension funding gap by eliminating cost-of-living increases and asking local governments to chip in a greater share of their revenue toward retirements.” Read article…