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

How Will Governor Brown’s Pension Reform Plan Affect Public Safety

How Governor Brown’s Pension Reform Plan Affects Public Safety It appears that Governor Brown has offered some amnesty to Public Safety in his Pension Reform Plan released today at 11:00am, but public safety will be affected, especially new hires. 1. Equal Sharing of Pension Costs: All Employees and Employers: This ...Read More

Main Points of Governor Brown’s Pension Reform Plan

Main Points of Governor Brown’s Pension Reform Plan  1. Equal Sharing of Pension Costs: All Employees and Employers 2. “Hybrid” Risk-Sharing Pension Plan: New Employees 3. Increase Retirement Ages: New Employees 4. Require Three-Year Final Compensation to Stop Spiking: New Employees  5. Calculate Benefits Based on Regular, Recurring Pay to ...Read More

PUBLIC SECTOR EMPLOYEE ORGANIZATIONS NEED TO CAREFULLY CHOOSE THEIR MESSAGE IF THEY HOPE TO KEEP THEIR CURRENT PENSION BENEFITS

 As the movement for pension reform gains momentum in Sacramento and throughout California public employee organizations need to carefully look at their message, much of which has not changed in many years. First, public sector employees should be sure that their message or argument is accurate. Next, does that message ...Read More