Pension Update – CSFA’s weekly round-up of public pension news and comment

Here is a weekly round-up of news and opinion on the pension issue. Stay informed on this important issue and pass these on to neighbors and colleagues.

California Stories

Pay raises for CalPERS top brass on deck (Sac Bee)

CalPERS board approves potential raises for investment team (Institutional Investor)

El Cajon warned at budget time about revenue forecast (San Diego Union Tribune)

California’s boldest pension reform, five years in (Capitol Weekly)

Editorial: It’s one thing to back labor. But Treasurer Chiang’s CalPERS proposal goes too far. (Sac Bee)

CalPERS pension fund to review private equity investments (Reuters)

CalPERS CIO looking at possible drastic cuts to private equity, citing transparency (Pensions & Investments)

California’s boldest pension reform: five years in (Calpensions)

Fairfield budgets no sales tax increase due to softer car market (Fairfield Daily Republic)

Prosecutor wins seat on Ventura County pension board (VC Star)

Borrowing to Fund Pensions Could Make California the Next Puerto Rico (City Watch)

OPINION Unions try to make it harder for local governments to make pension payments (OC Register)

California Public Employees Retirement System speaks on defending system from 'pension spiking' (Northern California Record)

City Council Approves Record Payment Toward Santa Monica's Unfunded Employee Pensions (Santa Monica Lookout)

Pension costs continue to burden city budget (Simi Valley Acorn)

National Stories


Michigan Lawmakers OK Steering New Teachers Into 401(k) Plan (AP)

Teacher retirement overhaul heads to Snyder (The Detroit News)

Chicago Public Schools borrows $275M to fulfill pension duty (The Times)

Snyder, Lawmakers Finalize Budget Deal After Pension Votes (AP)

Done: With School Pension Reform, State's Big Pension Liabilities Contained (Michigan Capitol Confidential)

Public Pensions: Contributions Up, Investment Earnings Down in 2016 (Muni Net)

Environmentalists Demand Trillions in Lower Returns for Pensions (National Review)

Local educators oppose Mich. pension reform (Record Eagle)

3 ways teacher retirement changes would affect current teachers (Mich Live)

Ron Southwick: Pension reform deserves praise (Reading Eagle)

EDITORIAL: Pennsylvania’s pension time bomb still ticking (Amber Gazette)

Legislative panel to study switching public employee pensions into cash balance plans (Omaha World Herald)

New Mexico pension tries to head off possible shortfall (AP)