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City of Simi Valley reaches settlement with taxpayer groups, rescinds authorization for pension obligation bonds

City of Simi Valley reaches settlement with taxpayer groups, rescinds authorization for pension obligation bonds

The Simi Valley City Council voted 5-0 on April 6, 2020, to rescind a December 2019 resolution authorizing a $150 million pension obligation bond and future similar bonds, thanking the Ventura County Taxpayers Association for working with the City in avoiding what could have been a lengthy battle over legally questionable bonds. The rescission was […]

Gavin Doesn’t Get It

Gavin Doesn’t Get It

  By Richard Eber No one has informed Gavin Newsom that the 2018 election is over. It is now time to stop blaming straw men for preventing him from properly administering the 5th largest economy in the world.  Just prior to the Thanks giving Holiday  Newsom sent out an email  which promised to enact stronger […]

How much will YOUR city pay CalPERS in a down economy?

How much will YOUR city pay CalPERS in a down economy?

    By Edward Ring CalPERS still hasn’t issued their actuarial analyses for the period ending 6/30/2018, even though a year ago, the 6/30/2017 analyses were available. Could it be related to the fact that the DJIA index on 10/01/2018 was 26,447 and as of midday 10/01/2019 it sits at 26,599? Did CalPERS have a bad year […]

United States Department Of Justice Agrees That CalSavers Program Is Illegal

United States Department Of Justice Agrees That CalSavers Program Is Illegal

Today (13) the United States Department of Justice filed a “Statement of Interest” in the U.S. District Court agreeing with the Howard Jarvis Taxpayers Association (HJTA) in its legal action against California’s so-called “CalSavers” program. Originally called “Secure Choice,” CalSavers is a state-run retirement plan for private-sector employees. HJTA contends that it is an illegal […]

CalPERS Admits It Is Nowhere on Its New Private Scheme After More Than Two Years

CalPERS Admits It Is Nowhere on Its New Private Scheme After More Than Two Years

  . By Stephen Frank,  California Political News and Views CalPERS has over one trillion in unfunded liabilities.  Instead of a ROI of 7% as they advertised they would, it is UNDER 2%.  Then in an effort to kill off private pension systems—and to get more money into government control, the Legislature passed a bill to […]

Eber | Moment of Truth for Gavin

Eber | Moment of Truth for Gavin

  By Richard Eber, California Political News and Views  Making decisions is often not an easy task. In politics  a point inevitably transpires when the research of advisors and the desires of special interest groups need to be cast aside when “Judgment Day” comes; Or as Brutus remarked in Shakespeare’s Julius Caesar, “There comes a time in […]

Eber | 10 things Newsom must do to fulfill his destiny

Eber | 10 things Newsom must do to fulfill his destiny

  By Richard Eber, California Political News and Views  It is not the fault of the once and future king of California politics had little to do during his two terms in office as Lt. Governor of the Golden State.  Gavin Newsom did his best to stay in the spotlight.  Outside of running for the past […]

Hold on to Your Wallets Or Leave the State: Taxes Are Going UP

Hold on to Your Wallets Or Leave the State: Taxes Are Going UP

  . By Stephen Frank,  California Political News and Views This is gut check time for young families, small businesses and the California middle class.  You have a big decision to make, quickly.  Even with a State budget surplus, prior to the expected Spring, 2019 California recession, taxes are going up and plans for 2020 is […]

Just How Much Money Might CalPERS Have to Collect in an Economic Downturn?

Just How Much Money Might CalPERS Have to Collect in an Economic Downturn?

. .… By Edward Ring When evaluating the financial challenges facing California’s state and local public employee pension funds, a compelling question to consider is when, exactly when, will these funds financially collapse? That is, of course, an impossible question to answer. CalPERS, for example, manages hundreds of billions in assets, which means that long […]

Investigate hiring of CalPERS CEO, John Chiang says

Investigate hiring of CalPERS CEO, John Chiang says

BY ADAM ASHTON [email protected] California State Treasurer John Chiang on Wednesday called for an independent investigation into the hiring of CalPERS Chief Executive Officer Marcie Frost to resolve questions about whether she misinformed the $360 billion pension fund when she applied for her job. Chiang stressed in announcing his call for an investigation that he has […]

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