In its first ever assessment of climate change’s potential impacts on pension risk, the California Public Employees Retirement System has found that 20% of its investments are in sectors vulnerable
Rising pension costs have caused the SCFPD to cut services and close a station.
More than a thousand public retirees in California are earning pensions that exceed the federal limit of $220,000, according to data from CalPERS.
“Rising pension expenditures are already changing the landscape of local government, and the findings here suggest that the future of local government may look very different than the past,” the study’s author said.
The California Public Employees’ Retirement System earned a 6.7% return on its investments during the last fiscal year, missing its annual goal of 7%.
A Steep Rise in Retiree Health Costs is Putting Local Governments at Risk
On March 18, Moody’s released one of the most comprehensive reports on the status of California public retiree health costs to date. Its conclusions were troubling.Brittany M. 05/27/2019 - 9:33 PM
The California Supreme Court issued a much-anticipated ruling on public employee pension benefits Monday, but left a larger and much more consequential question about vested pension rights intact.<
A controversial retirement program that paid some L.A. public safety workers double toward the end of their careers is headed for change following a series of investigative reports by the Los Angeles Times.
We’re nearly two weeks into a legal case that could have enormous implications for California’s future.
The cities of Burbank, Glendale, Pasadena, and Pomona have now hit the maximum allowable sales tax rate of 10.25%.