As cost of CalPERS pensions increases, Newsom offsets cost
Apr 15, 2024 · More generous-than-expected raises for California state workers are nudging up the cost of public employee pensions, according to the California Public Employees’ Retirement System. But, for one year, Gov. Gavin Newsom has a plan to save some money that otherwise would have to be spent on those retirement plans.
Are California’s public pension funds headed for another crisis?
Sep 29, 2022 · In California, current and retired employees covered by CalPERS, CalSTRS and other public-sector pension plans have some of the nation’s best protection against such downturns.
New California ruling targets pension 'spiking' as retirees appeal …
Jan 26, 2024 · A California Supreme Court decision three years ago was supposed to be the final word on former Gov. Jerry Brown’s marquee pension limit law, but judges are still sorting it out — and making decisions that could mean thousands of dollars a year to government retirees.
California's Leaders Still Ignoring State Pension Debt - Reason.com
May 10, 2024 · A recent CalMatters report reminds us the state never has gotten its pension debt under control and that Gov. Gavin Newsom and the Legislature keep making the problem worse: "More generous-than...
California's public pension debt grows - Reason Foundation
Dec 6, 2022 · CalPERS’ unfunded liabilities roughly translate to over $4,000 in debt for every Californian. The California Public Employees’ Retirement System, the retirement system for California’s state, school, and public agency workers, suffered investment losses of …
Are Government Pension Funds in Crisis Again? - California …
Oct 7, 2022 · In California, ever since pension benefits were enhanced, retroactively, starting in 1999, critics have been claiming a pension apocalypse was imminent. But so far, no matter what happens, pension funds muddle through.
State pension plans were hammered in 2022. Next year will be …
Dec 28, 2022 · The California Public Employees’ Retirement System, the country’s largest public pension, lost almost $30 billion in the downturn.
Can California Save Itself From A Pension Disaster?
Jan 25, 2018 · The California Public Employees’ Retirement System (CalPERS) and other pension systems in the Golden State might be celebrating their recent investment returns, but don’t be fooled. Their problems are nowhere close to …
California’s unfunded pension liabilities will burden government
Jul 29, 2022 · CalPERS now has approximately $611 billion in pension debt and is 72% funded. The California Public Employees Retirement System (CalPERS) recently announced investment losses for its latest fiscal year, which will add to the state’s pension debt.
Public pension debt grows as CalPERS reports even more losses
Nov 25, 2022 · The California Public Employees’ Retirement System, the retirement system for California’s state, school, and public agency workers, suffered investment losses of almost $30 billion in 2022.