CalPERS Archives - California Globe

President Trump Orders Federal Retirement Funds Invested in Chinese Equities to be Pulled

May 12, 2020 2:20 amMay 12, 2020 9:08 am

President Trump is moving to cut investment ties between U.S. federal retirement funds and Chinese equities, in a move that is tied to the handling of COVID 19, Fox News reported Monday evening. “National security adviser Robert O’Brien and National Economic Council Chair...

Coronavirus Side Effect: CalPERS Drops to 60% Funded

May 5, 2020 7:08 amMay 5, 2020 7:38 am

Gov. Gavin Newsom’s coronavirus emergency management policy to shut down the economy rather than triage the vulnerable has resulted in a 10 percent investment fund loss for the California Employees Retirement System – CalPERS – from 70 to 60 percent...

Rates of Pay and Pension Debt Escalating in California’s Distressed Cities

April 29, 2020 2:29 amApril 29, 2020 10:02 am

Nobody needs reminding that California’s cities, like every other going concern in America, are heading for tough economic times. As recently as two months ago, robust collections of sales taxes, utility taxes, transient occupancy taxes, property taxes and other sources...

Post-Coronapocalypse Pension Reform Checklist for California

April 1, 2020 2:10 amApril 2, 2020 6:21 am

Pensions for state and local government employees in California are literally three to five times as costly as Social Security, and at least twice as costly as the Federal Retirement System. In a perfect world, California’s state and local...

California State Capitol dome shines against blue sky

Time for California’s Unions to Get Serious About Pension Reform

March 23, 2020 4:05 pmMarch 23, 2020 4:08 pm

An independent contractor in California has 12.4 percent withheld by the Social Security Trust Fund, and for that, they may expect a maximum of $45,480 if they retire at age 70, after nearly 50 years of work. There was a...

More Warnings of U.S. Dependence on Goods Produced in China, and CalPERS Investments in China’s Military

March 16, 2020 6:24 pmMarch 16, 2020 6:35 pm

Last month, California Globe reported about Rep. Jim Banks’ (R-IND) letter to sent California Governor Gavin Newsom, calling for the investigation of the CalPERS Chief Investment Officer Yu Ben Meng, for his “long and cozy relationship with China.” The California...

Split Decision for Busted CHP Boss

March 3, 2020 3:21 pmMarch 3, 2020 3:54 pm

The board of the California Public Employees Retirement System (CalPERS) has maintained a pension reduction for former California Highway Patrol Assistant Chief Sheldon K. Scarber. Last month the board upheld the ruling of Administrative Law Judge Dannette C. Brown, which...