LAUSD’s empty chair. A prep academy shuts its doors. Reed Hastings helps launch a $200 million something.
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. […]
Jon Coupal is nothing if not blunt when he describes one motive behind a Ventura County ballot measure that would replace the “defined benefit” pensions currently enjoyed by county employees and replace them with 401(k)-type plans for all future hires. “This is meant to be a template for other counties,” Coupal tells Capital & Main. […]
In 2011, the University of California, Berkeley Center for Labor Research and Education put out a study that should have sparked mass rallies up and down the Golden State. The report found that nearly half of California workers will retire in or near poverty. In other words, a state once synonymous with the American Dream […]
It’s official: America has entered a retirement crisis. Or, as Forbes understatedly put it, “the greatest retirement crisis in the history of the world.” And, while the causes are manifold — the demographic bulge of baby boomers leaving the fulltime workforce; greater worker longevity; the disastrous, 30-year shift from traditional defined benefit pensions to costly […]
The latest chapter in the efforts to dismantle California’s public-sector retirement system was officially opened Tuesday when San Jose Mayor Chuck Reed submitted paperwork that begins the process of qualifying his latest pension initiative for next year’s statewide ballot. The filing brings to a climax weeks of speculation about the timing of the proposed law […]