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Headline: Gov. Brown wants California to borrow from itself to fund employee pensions. Good idea
Publication: LA Times
Article Date: June 2, 2017

Governor Jerry Brown and Treasurer John Chiang are proposing to borrow $6 billion from the state’s Pooled Money Investment Account and spend it on an extra payment to the California Public Employees’ Retirement System (CalPERS) – that is, make an advance payment to CalPERS for pensions. The idea is that the one-time payment will save the state and localities billions over the next 30 years via reduced CalPERS contributions. Read article…

Headline: House considers federal pension, civil service reforms
Publication: Pensions & Investments
Article Date: May 24, 2017

“Shifting the federal retirement system to defined contribution approaches from defined benefit were some ideas offered at a hearing Thursday by the House Government Operations Subcommittee, whose members are considering reforms to the federal employee system.” Read article…

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…

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…