When San Diego and San Jose put reforms on the ballot, their pension and retirement health care were 20 percent of the general fund. Another of the six big cities with their own pension systems, Los Angeles, now spends 20 percent of its general fund on retirement. The last big proposal f...
Though facing a huge funding shortfall, the CalPERS board yesterday adopted a new plan for its $346 billion investment portfolio that will not bring in more money from another employer rate increase or a shift to riskier but higher-yielding investments. CalPERS did not recover from an investment...
No spension, I advocate to freeze, or if not possible, to VERY (think 50+%) materially reduce the value of FUTURE service Public Sector pension accruals because they are right now 2 to 4 times (4 to 6 times for Safety workers) greater in value upon retirement than those granted comparab...