IT IS TIME FOR CALPERS TO GET REAL(ISTISC!)

CalPERS is considering once again to reducing its investment forecast.  It attempted to do so last year when CalPERS senior actuary, Allen Milligan recommended to CalPERS that they lower their annual investment return forecast by a half point from 7.75% to 7.25%.  The annual return forecast, also known as investment ...Read More

US ATTORNEYS’ ANNOUNCEMENT REGARDING LANCE ARMSTRONG SUSPICIOUS

In a highly unusual move Federal prosecutors announced on Friday, February 3, 2012 that they had closed a two-year criminal investigation related to doping allegations involving seven-time Tour de France winner Lance Armstrong. Federal prosecutors rarely, if ever, announce the closure of a secret investigation–which is what the Armstrong investigation ...Read More

HEALTH OF PUBLIC PENSION SYSTEMS TIED TO CALIFORNIA’S MOUNTAIN OF DEBT

How does it feel knowing that your pension is tied to the success or failure of the high-speed rail project?  Both the short and long term health and viability of California’s State and Local Pension Funds are tied directly to how California deals with its other massive debt obligations. It ...Read More

New POBR Case Protects Whistle Blowers in Law Enforcement

A new case came down today from the 4th Appellate District, Jaramillo v. County of Orange, which establishes that POBR waivers are not enforceable for any Law Enforcement officer, even executive staff.  This case, factually, exposes extreme corruption in the Orange County Sheriff’s Office.  The Appellate Court made every attempt ...Read More

DR. CONRAD MURRAY CONVICTED OF INVOLUNTARY MANSLAUGHTER, WILL LOSE LICENSE TO PRACTICE MEDICINE

DR. CONRAD MURRAY CONVICTED OF INVOLUNTARY MANSLAUGHTER, WILL LOSE LICENSE TO PRACTICE MEDICINE A Los Angeles County jury convicted Dr. Conrad Murray of involuntary manslaughter on Monday, November 7, 2011. Lost in all the media hype and outrage by the throngs of fan of the deceased pop icon, is the reality of ...Read More

GOVERNOR BROWN’S 12-POINT PENSION REFORM PLAN GAINING TRACTION

It appears that Governor Jerry Brown’s recently unveiled 12-Point Public Employee Pension Reform Plan is gaining traction over a wide swath of California voters and not just fiscal conservatives. Periodically the Sacramento Bee publishes an interesting debate between two writers titled “Head to Head.” Head to Head pits conservative Ben ...Read More

TEACHERS’ PENSION FUND BILLIONS SHORT

The biggest pension fund for California teachers, CalSTRS, is experiencing a massive funding gap and the California Governmental Accounting Standards Board (GASB) is proposing new accounting rules for calculating the fund’s liabilities that will make those numbers even worse. CalSTRS currently has a funding gap of 56 billion dollars–the difference ...Read More

CalPERS CEO Issues Statement on Governor’s Pension Reform Proposal

  CalPERS CEO Issues Statement on Governor’s Pension Reform Proposal SACRAMENTO, CA – Anne Stausboll, Chief Executive Officer of the California Public Employees’ Retirement System (CalPERS), today issued the following statement in response to Governor Edmund G. Brown, Jr.’s 12-point pension plan: “CalPERS is closely involved in the pension policy ...Read More

CalSTRS Response To Governor Brown’s Pension Reform

CalSTRS Response: http://www.calstrs.com/Newsroom/whats_new/pension_reform_response.aspx CalSTRS appreciates that Governor Brown has taken a very important step in addressing the critical and complex issues facing the state’s public pension systems. We look forward to receiving more detail on the proposal and having the opportunity to review it in depth. The most important reform ...Read More