Ed Mendel

Originally posted at www.calpensions.com CalPERS last week gave some 1,575 local governments a small increase in their annual pension costs, one of the last rates kept low by unusual actuarial policies adopted after a $100 billion investment loss five years

Originally posted at www.calpensions.com Bond insurers arguing that Stockton is ineligible for bankruptcy because it did not attempt to negotiate a pension debt reduction with CalPERS, among other failings, may get their day in court in January. U.S. Bankruptcy Judge

If the Legislature attempts pension reform this month, one of the targets may be “air time,” a decade-old policy that allows CalPERS and CalSTRS members to boost their pensions by buying up to five years of additional service credit. Another

Originally posted at www.calpensions.com A Stockton bankruptcy proposal does not cut pensions, but the city wants to eliminate $197.5 million in pension bond payments over the next 25 years, a plan opposed by the bond insurer that would be stuck

Originally posted at www.calpensions.com Middlemen who help investment funds get money from CalPERS received $1.85 million in fees during the past two years, a sharp drop from the $58 million collected by a former CalPERS board member in a pay-to-play

Originally posted at www.calpensions.com Stockton has enrolled three mayors and 14 city council members in CalPERS since 1991, despite a provision in the city charter that clearly states no council member shall receive retirement or death benefits, the Stockton Record

Originally posted at www.calpensions.com A two-house legislative committee is working with Gov. Brown’s Department of Finance on a ‘hybrid’ retirement plan for new state and local government hires, a committee member told a forum here last week. Assemblyman Michael Allen,

CalPERS is planning a two-year phase in of a rate increase resulting from a lower earnings forecast adopted yesterday, continuing a “smoothing” policy that softens the impact of rising pension costs on deficit-ridden state and local government budgets. Lowering the