Source: Cal Pensions
News
April 13, 2016
CalPERS actuaries recommend that the annual state payment for state worker pensions increase $602 million in the new fiscal year to $5.35 billion, nearly doubling the $2.7 billion paid a decade ago before the recession and a huge investment loss.
News
June 29, 2015
The purpose of the new rules was briefly outlined last week by the accounting board chairman, David Vaudt . . . “Previously, what happened under current standards is that the pension and OPEB liabilities appeared in the footnotes of the financial statement, and regretfully that didn’t get the attention of the policymakers, the mayors and councils, the governors and the legislators,” Vaudt said.
News
June 29, 2015
The purpose of the new rules was briefly outlined last week by the accounting board chairman, David Vaudt . . . “Previously, what happened under current standards is that the pension and OPEB liabilities appeared in the footnotes of the financial statement, and regretfully that didn’t get the attention of the policymakers, the mayors and councils, the governors and the legislators,” Vaudt said.
News
May 4, 2014
A CalPERS report intended for policymakers, noting that a reform cuts $435 a month from the pensions of many new hires, suggests that a pay raise may be needed to “compete for quality employees.”
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