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Posts Tagged ‘public pensions’


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Why Government Employee Pensions Will Be Taxpayers’ Main Squeeze


Friday April 27th, 2018   •   Posted by K. Lloyd Billingsley at 4:00am PDT   •   0 Comments

Even Jerry Brown knows that government employee pensions have put California in a bad place. Prospects for reform recently took a hit when the Senate Public Employee Retirement Committee killed John Moorlach’s SB 1031 and 1032, which would have let local governments avoid CalPERS termination fees and limited cost-of-living hikes for future employees. The…
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Gold Plated UC Pensions Punish Parents, Students


Monday September 25th, 2017   •   Posted by K. Lloyd Billingsley at 11:00am PDT   •   0 Comments

“I think this year’s higher tuition is just the beginning of bailouts by students and their parents. The students had nothing to do with creating this, but they are going to be the piggy bank to solve the problem in the long term.” That is Lawrence McQuillan, author of California Dreaming: Lessons on How…
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CalPERS Court Loss a Big Hit on Taxpayers


Wednesday June 28th, 2017   •   Posted by K. Lloyd Billingsley at 9:23am PDT   •   1 Comment

The U.S. Supreme Court has dismissed a lawsuit by California’s public employee retirement system against investment banks that supposedly “duped” them into buying some $700 million of stock. CalPERS, the nation’s largest pension trust fund, could have joined a class-action with others but declined to do so. Then CalPERS missed the three-year statute of…
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The Truth About the Pension Crisis


Wednesday August 3rd, 2016   •   Posted by K. Lloyd Billingsley at 8:40am PDT   •   0 Comments

Rob Feckner, president of the CalPERS board of administration, has heard stories that all is not well with the massive pension fund, with assets of more than $301 billion. “Nothing could be further from the truth,” writes Feckner in the Sacramento Bee. “Let me tell you why.” Investment returns for fiscal year July 1,…
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The Truth on Unfunded Pension Liability


Wednesday October 21st, 2015   •   Posted by K. Lloyd Billingsley at 9:07am PDT   •   0 Comments

In 1999, Dan Walters of the Sacramento Bee notes in a recent column, the California Public Employees’ Retirement System, “abetted one of the most irresponsible political acts in state history – a massive increase in public pension benefits.” CalPERS did this by telling legislators, “the benefit increase state worker unions were seeking could be…
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GovPensions.Con


Tuesday October 13th, 2015   •   Posted by K. Lloyd Billingsley at 10:01am PDT   •   0 Comments

As Lawrence McQuillan has noted, unfunded pension liabilities have soared to $4.7 trillion nationwide and California accounts for $550 billion to $750 billion of the total. A case outlined by Brad Branan in the Sacramento Bee shows why California is a leader in this field. In Loomis, near Sacramento, town councilman Brad Wheeler was…
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GovSpending.Con


Monday July 20th, 2015   •   Posted by K. Lloyd Billingsley at 10:53am PDT   •   0 Comments

California taxpayers, the most embattled in the nation, have good reason to wonder how much their government is spending. According to Dan Walters of the Sacramento Bee, a veteran observer, government is spending a lot more than people think. The 2015 state budget has been reported as $115.4 billion, for the general fund, and…
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