UNDERFUNDED PENSION SYSTEMS: TOUGH CHOICES LAY AHEAD FOR PENSION MANAGERS
Managers of some of Californian’s biggest public employee pension funds will face difficult decisions this year to shore up chronically underfunded pension systems. By anyone’s account both CalPERS and CalSTRS are significantly underfunded. That means that the pension systems do not have sufficient money, even assuming a set investment return ...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
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
CalPERS increases the cost of terminating participation for employers
The CalPERS, Terminated Agency Pool lacks the ability to get more money from employers and taxpayers if investments expected to fund roughly 67% of pension costs fall short. That coupled with the increased number of agencies exploring the idea of terminating their participation in CalPERS lead the Board of Directors ...Read More