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

OPINION Gov. Jerry Brown stands up to union on pensions (OC Register)
http://www.ocregister.com/2017/12/06/gov-jerry-brown-stands-up-to-union-on-pensions/

California is putting retirees at risk with social justice pension investments (Washington Examiner)
http://www.washingtonexaminer.com/california-is-putting-retirees-at-risk-with-social-justice-pension-investments/article/2642701

SLO County will cover its pension shortfall by making employees pay more (SLO Tribune)
http://www.sanluisobispo.com/news/local/article188148294.html

Public works, libraries, city offices closed as Oakland workers strike (KTVU)
http://www.ktvu.com/news/public-works-libraries-city-offices-closed-as-oakland-workers-strike

Editorial | State-crushing ‘California rule’ on pensions must go (San Diego Union Tribune)
http://www.sandiegouniontribune.com/opinion/sd-calilfornia-rule-pension-cuts-20171204-story.html

OPINION California needs fiscal restraint – even in good times (OC Register)
http://www.ocregister.com/2017/12/04/california-needs-fiscal-restraint-even-in-good-times/

CalPERS Chief Operating Investment Officer Steps Down (Institutional Investor)
https://www.institutionalinvestor.com/article/b15x4ychj7lb73/calpers-chief-operating-investment-officer-steps-down

Letter: Get rid of all pensions for public employees (Modesto Bee)
http://www.modbee.com/opinion/letters-to-the-editor/article188009779.html

Report blasts CalPERS’ environmental and social ‘activism’ (Sacramento Bee)
http://www.sacbee.com/news/politics-government/the-state-worker/article188047259.html

National Stories

How big will Conyers’ pension be? (The Detroit News)
http://www.detroitnews.com/story/news/politics/2017/12/06/conyers-government-pension/108380788/

Stapleton says PERA reforms necessary to avoid state credit downgrade (The Gazette (Colo.))
http://gazette.com/stapleton-says-pera-reforms-necessary-to-avoid-state-credit-downgrade/article/1616680

Christie makes final pitch for more public employee benefit reforms (Burlington County Times)
http://www.burlingtoncountytimes.com/news/20171206/christie-makes-final-pitch-for-more-public-employee-benefit-reforms

Christie proposes slashing health benefits for pension funding (NorthJersey.com)
http://www.northjersey.com/story/news/new-jersey/2017/12/06/christie-proposes-slashing-health-benefits-pension-funding/927892001/

Christie Panel Says Only Benefit Cuts Can Fix N.J. Pensions (Bloomberg)
https://www.bloomberg.com/news/articles/2017-12-06/n-j-worker-benefit-cuts-seen-by-group-as-only-fix-for-pensions

Retirement dream — more money for travel, less for health care? (Chicago Sun Times)
https://chicago.suntimes.com/lifestyles/retirement-dream-more-money-for-travel-less-for-health-care/

Editorial: Even Rauner knows he's failed (Quad City Times)
http://qctimes.com/opinion/editorial/editorial-even-rauner-knows-he-s-failed/article_04a19889-73c9-51a5-ace6-c7926d0025a0.html

Op-Ed: Pension reform isn't anti-public employee (Traverse City Record Eagle)
http://www.record-eagle.com/opinion/op-ed-pension-reform-isn-t-anti-public-employee/article_28e200dd-1909-58cf-8f46-e7c02ae2c172.html

Green Investments Won’t Save Public Pensions (Value Walk)
http://www.valuewalk.com/2017/12/green-investments-public-pensions/

Public Pension Funds' Anti-Fossil Fuel Activism Raises Risks For Beneficiaries (Forbes)
https://www.forbes.com/sites/davidblackmon/2017/12/05/public-pension-funds-anti-fossil-fuel-activism-raises-risks-for-beneficiaries/#58ef81dc5fbb

Pension Funds' Rush to Go Green Costs Retirees Their Green (Real Clear Markets)
http://www.realclearmarkets.com/articles/2017/12/06/pension_funds_rush_to_go_green_costs_retirees_their_green_103023.html

Column: Act now to fix pension system (Detroit News)
http://www.detroitnews.com/story/opinion/2017/12/04/pensions-michigan-communities-debt-albert/108316526/

Kate Brown to business leaders: State budget troubles linger (The Oregonian)
http://www.oregonlive.com/politics/index.ssf/2017/12/kate_brown_to_business_leaders.html

Rising retirement costs are placing pressure on college tuitions (East Oregonian)
http://www.eastoregonian.com/eo/capital-bureau/20171204/rising-retirement-costs-are-placing-pressure-on-college-tuitions

Hearings To Begin In Lansing On Local Pension Funding (WEMU)
http://wemu.org/post/hearings-begin-lansing-local-pension-funding

Philly union presses pensions to drop nonunion hotel funding (Philadelphia Inquirer)
http://www.philly.com/philly/blogs/inq-phillydeals/philly-union-presses-pensions-to-drop-nonunion-hotel-funding-20171204.html

Offering pensions can help autocrats stay in power longer (Washington Post)
https://www.washingtonpost.com/news/monkey-cage/wp/2017/12/04/offering-pensions-can-help-autocrats-stay-in-power-longer/?utm_term=.6c50e4298ab5

CVS acquisition of Aetna affects $23 billion in retirement assets (Pensions & Investments)
http://www.pionline.com/article/20171204/ONLINE/171209945/cvs-acquisition-of-aetna-affects-23-billion-in-retirement-assets