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)
http://www.sacbee.com/news/politics-government/capitol-alert/article157074434.html

CalPERS board approves potential raises for investment team (Institutional Investor)
http://www.institutionalinvestor.com/article/3726858/asset-management-macro/calpers-board-approves-potential-raises-for-investment-team.html#.WUoF3BPyv6Y

El Cajon warned at budget time about revenue forecast (San Diego Union Tribune)
http://www.sandiegouniontribune.com/communities/east-county/sd-se-elcajon-budget-20170613-story.html

California’s boldest pension reform, five years in (Capitol Weekly)
http://capitolweekly.net/californias-boldest-pension-reform-five-years/

Editorial: It’s one thing to back labor. But Treasurer Chiang’s CalPERS proposal goes too far. (Sac Bee)
http://www.sacbee.com/opinion/editorials/article156691769.html

CalPERS pension fund to review private equity investments (Reuters)
https://www.reuters.com/article/california-calpers-privateequity-idUSL1N1JG0XQ

CalPERS CIO looking at possible drastic cuts to private equity, citing transparency (Pensions & Investments)
http://www.pionline.com/article/20170619/ONLINE/170619871/calpers-cio-looking-at-possible-drastic-cuts-to-private-equity-citing-transparency

California’s boldest pension reform: five years in (Calpensions)
https://calpensions.com/2017/06/19/californias-boldest-pension-reform-five-years-in/

Fairfield budgets no sales tax increase due to softer car market (Fairfield Daily Republic)
http://www.dailyrepublic.com/solano-news/fairfield/fairfield-budgets-no-sales-tax-increase-due-to-softer-car-market/

Prosecutor wins seat on Ventura County pension board (VC Star)
http://www.vcstar.com/story/news/local/2017/06/18/prosecutor-wins-seat-ventura-county-pension-board/405008001/

Borrowing to Fund Pensions Could Make California the Next Puerto Rico (City Watch)
http://www.citywatchla.com/index.php/los-angeles/13427-borrowing-to-fund-pensions-could-make-california-the-next-puerto-rico

OPINION Unions try to make it harder for local governments to make pension payments (OC Register)
http://www.ocregister.com/2017/06/16/unions-try-to-make-it-harder-for-local-governments-to-make-pension-payments/

California Public Employees Retirement System speaks on defending system from 'pension spiking' (Northern California Record)
http://norcalrecord.com/stories/511126373-california-public-employees-retirement-system-speaks-on-defending-system-from-pension-spiking

City Council Approves Record Payment Toward Santa Monica's Unfunded Employee Pensions (Santa Monica Lookout)
http://www.surfsantamonica.com/ssm_site/the_lookout/news/News-2017/June-2017/06_15_2017_City_Council_Approves_Record_Payment_Toward_Santa_Monicas_Unfunded_Employee_Pensions.html

Pension costs continue to burden city budget (Simi Valley Acorn)
http://www.simivalleyacorn.com/news/2017-06-16/Front_Page/Pension_costs_continue_to_burden_city_budget.html

National Stories

DO TEACHERS PENSIONS NEED TRUMPIAN NEGOTIATORS? (All About Alpha)
http://www.allaboutalpha.com/blog/2017/06/20/do-teachers-pensions-need-trumpian-negotiators/

Michigan Lawmakers OK Steering New Teachers Into 401(k) Plan (AP)
https://www.usnews.com/news/best-states/michigan/articles/2017-06-20/michigan-lawmakers-ok-steering-new-teachers-into-401-k-plan

Teacher retirement overhaul heads to Snyder (The Detroit News)
http://www.detroitnews.com/story/news/politics/2017/06/20/teacher-pensions-snyder/103043724/

Chicago Public Schools borrows $275M to fulfill pension duty (The Times)
http://www.mywebtimes.com/news/local/chicago-public-schools-borrows-m-to-fulfill-pension-duty/article_3b603ce1-902a-5f6a-b0de-b13db3d84efc.html

Snyder, Lawmakers Finalize Budget Deal After Pension Votes (AP)
https://www.usnews.com/news/best-states/michigan/articles/2017-06-19/snyder-legislative-leaders-finalize-overall-state-spending

Done: With School Pension Reform, State's Big Pension Liabilities Contained (Michigan Capitol Confidential)
https://www.michigancapitolconfidential.com/done-with-school-pension-reform-states-big-pension-liabilities-contained

Public Pensions: Contributions Up, Investment Earnings Down in 2016 (Muni Net)
http://muninetguide.com/public-pensions-census-2016/

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

http://www.nationalreview.com/article/448651/pensions-divest-energy-stocks-terrible-idea

Local educators oppose Mich. pension reform (Record Eagle)
http://www.record-eagle.com/news/local_news/local-educators-oppose-pension-reform/article_162e452c-5c6f-5855-8ca0-68aa0ba085e2.html

3 ways teacher retirement changes would affect current teachers (Mich Live)
http://www.mlive.com/news/index.ssf/2017/06/3_ways_teacher_retirement_chan.html

Ron Southwick: Pension reform deserves praise (Reading Eagle)
http://www.readingeagle.com/news/article/ron-southwick-pension-reform-deserves-praise

EDITORIAL: Pennsylvania’s pension time bomb still ticking (Amber Gazette)
http://www.montgomerynews.com/amblergazette/opinion/editorial-pennsylvania-s-pension-time-bomb-still-ticking/article_5b5652f2-4fda-11e7-8057-47c7b3378b2b.html

Legislative panel to study switching public employee pensions into cash balance plans (Omaha World Herald)
http://www.omaha.com/news/metro/legislative-panel-to-study-switching-public-employee-pensions-into-cash/article_8874e580-6baa-5c10-a22f-78fec7729b1f.html

New Mexico pension tries to head off possible shortfall (AP)
http://www.fresnobee.com/news/business/article156277784.html