Are Government Pensions Funds in Crisis Again?

October 6, 2022 7:00 amOctober 5, 2022 10:05 pm

If ever there were a case of Chicken Little, it’s the endless squawking over the imminent implosion of public employee pension funds. In California, ever since pension benefits were enhanced, retroactively, starting in 1999, critics have been claiming a pension...

City of San Bernardino Exits Decade-Long Bankruptcy By Posting $2.5 Million Surplus

September 14, 2022 5:30 amSeptember 13, 2022 8:01 pm

The city of San Bernardino exited it’s bankrupt status on Tuesday following over a decade of facing severe revenue and cash shortages. On August 1, 2012, San Bernardino filed for bankruptcy following posting a $45 million shortage of revenue and...

Bill To Force CalPERS, CalSTRS to Divest From Fossil Fuel Companies Dies in Assembly Committee

June 23, 2022 4:12 pm

A bill that would have had forced both the California Public Employees’ Retirement System (CalPERS) and the California State Teachers’ Retirement System (CalSTRS) to divest from fossil fuel companies they have invested in died in the Assembly on Wednesday after...

Proposed Bill To Require State Pension Funds to Divest Completely From Russian Investments

March 1, 2022 11:56 am

A bipartisan-backed bill to require the California Public Employees’ Retirement System (CalPERS) and the California State Teachers’ Retirement System (CalSTRS) state pension funds to divest completely from any Russian assets was announced on Monday, with the intention of being formally...

SEIU Leader Suspended For Six Months Following $44,000 Time Sheet Fraud

November 29, 2021 12:00 pmDecember 8, 2021 3:47 pm

Tony Owens, the former Vice President of Bargaining for the Service Employees International Union (SEIU) Local 1000 in Los Angeles, was suspended for six months without pay from his California Public Employee’s Retirement System (CalPERS) on Monday following an investigation...

US Pension Funds Lost $400 Billion on China Investments in July

August 3, 2021 7:47 amAugust 4, 2021 10:48 am

“Big Chinese tech stocks lost hundreds of billions of dollars in combined market value in July, reflecting rising investor concern about how the sector will fare under a barrage of regulatory pressure from Beijing,” the Wall Street Journal reported last...

CalPERS, CalSTRS Turkish Divestment Bill Passes Senate 36-0

May 26, 2021 2:33 pm

A bill to allow school districts and cities to choose investments not issued or owned by the country of Turkey passed the Senate unanimously 36-0 on Thursday. Senate Bill 457, authored by Senators Anthony J. Portantino (D- La Canada Flintridge)...