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Hold off on new DMV tasks, Brown tells lawmakers: As Gov. Jerry Brown directed his administration to audit the Department of Motor Vehicles on Monday, he also vetoed five DMV-related bills and urged the Legislature to put a “pause … Click to Continue »
Teacher pension fund weighing $300 million expansion in West Sacramento: The California State Teachers’ Retirement System is inching toward a decision about whether it should build a $300 million office building in West Sacramento on its riverfront campus. The teacher … Click to Continue »
California’s DMV to undergo audit after all: Gov. Jerry Brown on Friday directed his administration to conduct an audit into California’s embattled Department of Motor Vehicles. The agency has faced issues and controversy over rising wait times, … Click to Continue »
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CalPERS faces steep climb to rebuild its funding: Last year was one of the best ever for the CalPERS investment fund, a gain of $47 billion that boosted the total to $350 billion. But pension funding only increased from 68 to 71 percent of the projected assets needed to pay future costs. A CalPERS report last week said investments earned 15.7 ...
CalPERS may join union foes of 401(k) option: A bill by state Sen. Steven Glazer, D-Orinda, giving new state workers the option new University of California workers received two years ago, a 401(k)-style plan rather than a pension, is opposed by unions and soon may be opposed by CalPERS. More than a third of eligible new UC employees have ...
Some cities outsource their highest pension costs: Dozens of cities, many of them formed in recent decades, do not directly pay police and firefighter pension rates. They get their safety services though contracts with county sheriff departments and large fire districts. An example is Lake Forest, a community in Orange County formerly known as ...
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PensionTsunami Is Taking a Four-Day Weekend: Pension news has been very sparse lately and the past two weeks have been especially — trying as well as very hot — so we’re going to take off early for the Labor Day weekend. See you on Tuesday! — Jack Dean, Editor
PensionTsunami is taking a break: We’re taking my favorite holiday — the Fourth of July — as an opportunity to rejuvenate for several days. We may post a headline or two each day if they seem important, but otherwise we hope to be back with full daily news of escalating state and local government pension crises on Monday. – Jack...
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A Response to Yves Smith on CalPERS: Yes, The Twelve Days of CalPERS by Yves Smith at naked capitalism is very witty, but it plays into the hands of those who would like to see public pensions dismantled. I like some of the work Yves Smith has  have been reporting on CalPERS, which obviously needs not only watching but needs to be ...
CalPERS Candidate Forum: September 16, 2014: CalPERS Auditorium Looking Toward Board Seats Please attend the upcoming CalPERS Candidate Forum. Sorry, I haven’t been keeping this site up but have concentrated on Corporate Governance. However, another election cycle is coming up at CalPERS. State and local government employees will each ele...
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CalPERS Issues Circular Letter Regarding Employer Obligations for Out-of-Class Appointments, But Many Questions Remain: This post was authored by Michael Youril. On April 27, 2018, the California Public Employees’ Retirement System (“CalPERS”) issued Circular Letter No.: 200-021-18, which discusses limitations imposed on “out-of-class appointments” by Assembly Bill 1487, which added Government Code section 20480. ...
CalPERS Reduces Amortization Period with Impacts to Employer Contribution Rates: This post was authored by Stephanie J. Lowe and Frances Rogers. The California Public Employees’ Retirement System (CalPERS) recently decided to change its Actuarial Amortization Policy (“Amortization Policy”), which will impact employer contribution rates for contracting agencies. The revised Am...
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CalPERS manages pension and health benefits for more than 1.6 million California public employees, retirees, and their families. The second largest public pension fund in the US, they are internationally known for their shareowner activism.

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