Articles for category Retirement
Gov. Jerry Brown and Democratic legislative leaders announced today that they have reached an agreement on a new majority-vote budget plan.
"We've had some tough discussions, but I can tell you that the Democrats in both the Senate and the Assembly have now joined with the administration and myself and we have a very good plan going forward with the budget," Brown said at a press conference in his office this afternoon.
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New York Times June 21, 2011
Then Jim Righeimer, a conservative activist and real estate developer, jumped into the race last year.
The city was on the road to insolvency, he warned, because public employee unions had pressured politicians into handing over generous salaries and pensions. The police chief received $298,000 a year in total compensation, Mr. Righeimer noted. The deputy fire chief had retired with a pension of more than $182,000 a year.
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All CalPERS retirees are invited to participate in CalPERS Ambassador Program at the El Dorado Park Senior Center in Long Beach Sept. 27.
The volunteer Ambassadors will receive education, training and communications so they can better understand, and in turn better communicate, the facts about their retirement benefits. Ambassadors will come together for an initial training and then receive timely facts and outreach ideas via e-mail.
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The California Public Employees’ Retirement System’s Board of Administration on June 15 adopted a 2012 health care rate package with an overall annual premium increase of 4.1 percent for more than 1.3 million CalPERS members.
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Battle lines sharpened Thursday over California's public pensions with the release of a new report that concludes pay and benefit packages for public workers are better than those for their counterparts in the private sector.
Commissioned by pension overhaul advocates poised to seek changes, the report drew immediate fire from public employee unions, which have muscled up to fight the emerging pension wars.
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In a victory for all public retirees, the California Supreme Court on April 13 refused to hear the County of Orange’s appeal seeking to reverse retroactive pension increases given to retired Orange County sheriffs’ deputies.
The refusal to hear the case means the decision made earlier this year by the 2nd District Court of Appeal in Los Angeles stands. That court ruled the 2001 labor agreement retroactively giving Orange County deputies a 3 percent at age 50 formula for retirement is valid and does not violate the provisions of the California Constitution. [Read More...]
All working and retired members of the California Public Employees’ Retirement System (CalPERS) and their guests are invited to a question-and-answer session with three CalPERS officials in Palm Desert Friday, May 6. [Read More...]
Republicans and pension busters have been whacking CalPERS like a pinata for the past year. But here's something they don't like to talk about: CalPERS is a huge job creator in California. And weakening it would be a major drag on the state's economy.
CalPERS has invested more than $17 billion in California-based companies, properties and projects, helping to generate nearly one million jobs throughout the State, the California Public Employees' Retirement System (CalPERS) Investment Committee was told on Monday.
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Associated Press April 12, 2011
When it comes to shaping the future of Social Security, Sen. Dianne Feinstein says "everything should be on the table," including gradually raising the retirement age.
Sen. Barbara Boxer takes a different view. She is co-sponsoring legislation that would require a two-thirds majority vote before Congress could proceed with any legislation that would reduce benefits, increase the retirement age or transition the program to private accounts.
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Sacramento Bee
Published Friday, Apr. 08, 2011
Executives from the Area 4 Agency on Aging – which funnels more than $6 million in federal grants each year to a host of seniors' nutrition, health and social programs in a seven-county area including Sacramento – warned elder advocates this week to expect significant funding reductions to programs for older adults.
"We're entering the great unknown," said Area 4 Agency on Aging executive director Deanna Lea. "We need a disaster plan, just in case."
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