A teachers’ pension fund is in the money . . . Is a Kevin De León bill in the IRS’s crosshairs? . . . The State Board of Education greenlights yet another Oakland charter school.
Last month former San Jose mayor Chuck Reed took the first step toward offering a promised draft of a 2016 public pension cutting initiative that, he has hinted, will target the California Public Employees’ Retirement System. CalPERS manages the retirement and health benefits for more than 1.6 million California public employees, retirees and their families. […]
Capital & Main recently looked at a spate of negative headlines about public pension funds, spurred by data that State Controller John Chiang released on his new public data site at ByTheNumbers.sco.ca.gov. Chiang has served as Controller since 2006, acting as California’s Chief Fiscal Officer. He was recently elected as State Treasurer and will […]
“California pension funds are running dry,” warned a recent Los Angeles Times headline. “The unfunded liability— that’s the difference between promised benefits and projected funds to fulfill those obligations — grew from about $6.3 billion in 2003 to a little more than $198 billion in 2013,” Santa Rosa’s Press Democrat chimed in, helpfully doing […]
The California State Teachers’ Retirement System (CalSTRS) has filed a lawsuit against current and former members of Walmart’s board of directors, and other company officers, charging them with gross violation of fiduciary duty in connection with the company’s Mexican bribery scandal. That scandal, extensively examined by a recent New York Times feature, revealed a corporation […]