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Tag Archives: CalPERS

CalPERS Internal News Site Ignores Unfavorable Stories, Steals Copyrighted Material

One of the reasons we’ve had insight into what CalPERS is thinking is that it has an internal news site that it curiously has not password protected, as you’d expect, particularly given how it operates.1 Historically, we found it useful not only because it gave us insight into what the Office of Public Affairs (PAOF) deemed newsworthy for staff and the board, but also because it regularly featured investment-related articles from subscription-only site like Private Equity International. In...

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In Massive Blow To California Unions, A Second Court Rules That Pension Benefits Can Be Reduced

Back in September, we noted that, in a surprisingly logical decision particularly for a state like California which is typically devoid of all reason, a court upheld the rights of Marin County (and it's taxpayers) to reduce final year salary levels utilized to calculate pension payments.  The ruling was meant to protect taxpayers against "salary spiking," a practice whereby union employees artificially drive up their final year salary, by taking cash vacation payouts or 1x bonus payments...

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“It’s Corruption On Steroids” – A Look Inside The El Monte, California Public Employee Pension

El Monte, California is a city of roughly 100,000 residents in East Los Angeles, many of whom struggle to make ends meet with a median household income of ~$39,000 and nearly 25% of people living below the poverty line.  But while most of the people of El Monte struggle to meet monthly expenses, the city's public employees are living the high life courtesy of one of the most egregious taxpayer funded pension plans in the country.  Just ask the retired City Manager, James Mussenden,...

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Stanford Study Reveals California Pensions Underfunded By $1 Trillion Or $93k Per Household

Earlier today the Kersten Institute for Governance and Public Policy highlighted an updated pension study, released by the Stanford Institute for Economic Policy Research, which revealed some fairly startling realities about California's public pension underfunding levels.  After averaging $77,700 per household in 2014, the amount of public pension underfunding for the state of California jumped to a staggering $92,748 per household in 2015.  But don't worry, we're sure pension...

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CalPERS Weighs Pros/Cons Of Setting Reasonable Return Targets Vs. Maintaining Ponzi Scheme

In just a couple of months, the largest pension fund in the United States, the California Public Employees' Retirement System (CalPERS), will have to decide whether they'll rely on sound financial judgement and math to set their rate of return expectations going forward or whether they'll cave to political pressure to maintain artificially high return hurdles that they'll never meet but help to maintain their ponzi scheme a little longer.  The decision faced by CALPERS is whether their...

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