Category Archives: Pensions

CalPERS $100,000 Pension Club has more than doubled since 2012, new data show

Last year, the California Public Employees’ Retirement System (CalPERS) issued 30,969 pension checks that were worth $100,000 or more on an annualized basis, according to newly released pension payout data from TransparentCalifornia.com. The new, 2018 data reveals that CalPERS is … Continue reading

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No, California’s finances are not back in the black

By Patrick Gleason, Forbes | It’s happening again. People who should know better are pointing to California’s current budget surplus as proof that the state, the world’s fifth largest economy, is in sound financial shape. That figure is also being … Continue reading

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School and pension costs in California: What can be done?

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What the state Supreme Court’s pension ruling means for California’s taxpayers

By Jon Coupal | Last week, the California Supreme Court issued a ruling in Cal Fire Local 2881 v. CalPERS, a case involving public employee pensions. For taxpayers, the decision was a mixed bag. On the plus side, the court … Continue reading

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The Methuselah Annuity

Public employees are living longer than expected,                            deepening the state pension crisis. By Steven Malanga | The second-longest bull market in American history hasn’t stopped the deterioration of state and local pension funds, whose unfunded debt has almost quadrupled—by their … Continue reading

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Our public employee pension crisis

State and local governments face a $5 trillion unfunded pension liability. Daniel DiSalvo of the Manhattan Institute’s City Journal says paying for this will force cities like Fullerton to put basic services such as fire, police and street repairs on … Continue reading

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Fullerton and cities across Orange County struggle with police and fire pensions

Many Orange County cities are struggling to maintain budgets that keep, or minimally cut services and employees, while trying to keep up with growing law enforcement and fire pension spending, reports Spencer Custodio on the Voice of OC website. In … Continue reading

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CalPERS investment returns are in negative territory

The system has lost 1.9% during the five-month period beginning July 1 By Randy Diamond, Chief Investment Officer | The investment returns for the California Public Employees’ Retirement System (CalPERS) are in the red so far for the 12-month fiscal … Continue reading

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Decision on ‘California rule’ will impact who rules California

By Jon Coupal | On its surface, the case heard last Wednesday by the California Supreme Court in CalFire Local 2881 vs. CalPERS doesn’t seem that important. At issue is the so-called “California Rule,” an obscure legal doctrine relating to … Continue reading

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The public pension bomb

Steven Malanga and Dan DiSalvo of the Manhattan Institute join John Stossel to talk about America’s underfunded government-pension systems—the costs of which are consuming larger portions of state and city tax revenues, squeezing budgets, and limiting vital public services (as … Continue reading

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