Articles for category General News
CSR Legislative Report for the 2015-16 Legislative Session
[Read More...]
The following PDF is a list of Bills that CSR is supporting, opposing, or watching.
[Read More...]
The following PDF is a list of Bills that CSR is supporting, opposing, or watching.
[Read More...]
WALL STREET JOURNAL -- The nation’s biggest online tax-software company halted electronic filing of all state returns amid reports from states of criminal attempts to obtain refunds through its systems.
Intuit said its TurboTax unit took action Thursday after seeing attempts to use stolen personal information to file fraudulent returns for tax refunds.
[Read More...]
In failing health and facing up to 30 years in prison, businessman Alfred Villalobos apparently committed suicide before going on trial in connection with the bribery scandal at CalPERS.
Villalobos’ attorneys, appearing at a pre-trial hearing in U.S. District Court on Wednesday, disclosed that Villalobos died the day before. His death ends the government’s criminal case against the Nevada businessman –and largely closes the books on a corruption scandal that roiled the nation’s largest public pension fund.
[Read More...]
The Sacramento Bee reported Jan. 14 that Alfred Villalobos, accused of bribing former CalPERS Chief Executive Officer Fred Buenrostro to influence the fund’s business decisions, has died.
[Read More...]
The following article appeared on the Washington Post website regarding a plan that would allow pension plans to cut retiree benefits. The California State Retirees is closely monitoring this legislation, and assessing the impact. We will keep our members apprised as new information becomes available. The article is presented below for your information. California State Retirees
The Washington Post -- A measure that would for the first time allow the benefits of current retirees to be severely cut is set to be attached to a massive spending bill, part of an effort to save some of the nation’s most distressed pension plans.
The rule would alter 40 years of federal law and could affect millions of workers, many of them part of a shrinking corps of middle-income employees in businesses such as trucking, construction and supermarkets.
[Read More...]
CalPERS said Nov. 3 it has received a $249.3 million payment from Bank of America, the result of a settlement over toxic mortgage securities purchased by the pension fund during the housing bubble. With the Bank of America settlement, the California Public Employees’ Retirement System said it has now recovered more than $500 million from its investments in bad mortgage securities.
[Read More...]
Monthly Social Security and Supplemental Security Income (SSI) benefits for nearly 64 million Americans will increase 1.7 percent in 2015, the Social Security Administration announced today.
The 1.7 percent cost-of-living adjustment (COLA) will begin with benefits that more than 58 million Social Security beneficiaries receive in January 2015. Increased payments to more than 8 million SSI beneficiaries will begin on December 31, 2014. The Social Security Act ties the annual COLA to the increase in the Consumer Price Index as determined by the Department of Labor’s Bureau of Labor Statistics.
[Read More...]
The election results indicate CSUEU-endorsed candidate Taylor received 55 percent of the valid votes cast during the voting period, which took place from August 29 through September 29. Unofficial election results also indicate that Mathur received 56 percent of the valid votes cast. More than 40,000 active state and public agency CalPERS members voted in the election.
[Read More...]