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CalPERS critic makes runoff for CalPERS board

CalPERS critic makes runoff for CalPERS board

by Chris Reed The underfunded California Public Employees’ Retirement System faces daunting challenges in coming years, with local governments increasingly vocal about not being able to afford the ever-growing cost of their CalPERS-managed pension programs, as CalWatchdog reported July 20. The nation’s largest public pension fund could face these challenges with a board that appears both solidly […]

Pension Crisis Too Big for Markets to Ignore

Pension Crisis Too Big for Markets to Ignore

By Danielle DiMartino Booth . In late 2006, Aaron Krowne, a computer scientist and mathematician, started a website that documented the real-time destruction of the subprime mortgage lending industry. The Mortgage Lender Implode-O-Meter caught on like wildfire with financial market voyeurs, regularly reaching 100,000 visitors. West Coast lenders, some may recall, were the first to fall […]

Calpensions identifies poster child for pension reform initiative

Calpensions identifies poster child for pension reform initiative

Backers of an initiative that would give new Ventura County employees a 401(k)-style plan, rather than a pension, sometimes mention a lawsuit filed last fall by a former sheriff. Bob Brooks, whose salary as Ventura County sheriff was $227,600 a year when he retired in January 2011, received an annual pension of $283,000. He filed […]