Riskier Investments Are Costing Pension Funds
A new report from the PEW Charitable Trusts shows the state’s largest pension funds incurred over $10 billion in fees in 2014 from these more complex and risky investment vehicles.
On the Record: City Managers Fear Pension Tsunami
Brittany M.
Tue, 04/25/2017 - 03:11
Lodi City Manager Steve Schwabauer and South Lake Taho City Manager Nancy Kerry are among those coming forward to publicly express their fears over California’s pension woes.
In Richmond, Pension Woes Reach Boiling Point
A looming calamity in Richmond should serve as warning to other struggling municipalities.
Experts: Mounting Pension Costs Will Mean Big Cuts to Public Services—Again
Local governments across California are bracing for a more costly future thanks to mounting retirement obligations, and their residents are apt to experience cuts to local services on par with the 2008 recession as a result.
In a City Where Public Retirees are Raking in Millions, What’s a Mayor to Do?
El Monte’s Mayor is discovering how hard it is to cut retirement benefits.
‘California Rule’ Takes Another Hit in the Courts
2017 is going to be a nail-biter for pension watchers.
In Impoverished El Monte, Public Retirees Live Like Kings
A quarter of the city is living below the poverty line, but El Monte’s former city managers have more money than they know what to do with.
Despite Reforms, L.A. Pension Costs Reach New Heights
“With the money put into its pension funds over the last two years alone — nearly $2 billion — the city could have fixed every one of its broken sidewalks, built or leased housing for more than 25,000 homeless people or restored 11 miles of the concrete-clad Los Angeles River to a natural state."
California’s 2012 Pension Overhaul Has Fallen Flat
It’s been four years since lawmakers passed Gov. Jerry Brown’s sweeping pension overhaul, yet we have little to show for what was supposed to be the “biggest rollback to public pension benefits in California history.”