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 Big public pensions keep piling up (Riverside Press Enterprise)
http://www.pe.com/2017/08/16/big-public-pensions-keep-piling-up/

It Pays to Retire from a Public Sector Job in California (KABC)
http://www.kabc.com/2017/08/16/it-pays-big-bucks-to-retire-from-a-public-sector-job/

Looming liability: Pension costs remain long-term challenge for T.O. (Thousand Oaks Acorn)
https://www.toacorn.com/articles/looming-liability-pension-costs-remain-long-term-challenge-for-t-o/

Dan Walters: California’s big pension fund sees better return, but not out of the woods (CalMatters)
https://calmatters.org/articles/californias-big-pension-fund-sees-better-return-not-woods/

From well-funded pensions to basket case, San Francisco’s voters are to blame (R Street)
http://www.rstreet.org/op-ed/from-well-funded-pensions-to-basket-case-san-franciscos-voters-are-to-blame/

CalPERS says cutback to ’defensive’ equities allocation lowered fiscal-year returns (Pensions & Investments)
http://www.pionline.com/article/20170815/ONLINE/170819943/calpers-says-cutback-to-defensive-equities-allocation-lowered-fiscal-year-returns

CalPERS finds varying levels of satisfaction with 3 consultants (Pensions & Investments)
http://www.pionline.com/article/20170815/ONLINE/170819929/calpers-finds-varying-levels-of-satisfaction-with-3-consultants

CalPERS $100K Pension Club up 63% Since 2012, Watchdog Says (Chief Investment Officer)
https://www.ai-cio.com/news/calpers-100k-pension-club-63-since-2012-watchdog-says/

Budget Deficit Creates Tough Decisions for Pasadena Unified (Pasadena Now)
http://www.pasadenanow.com/main/budget-deficit-creates-tough-decisions-for-pasadena-unified/#.WZKQ_tPyvVo

Riverside officials knew since 2015 about soaring overtime that exceeded some utility workers’ regular pay (Riverside Press Enterprise)
http://www.pe.com/2017/08/12/riverside-officials-knew-since-2015-about-soaring-overtime-that-exceeded-some-utility-workers-regular-pay/

Opinion Tiny towns and the tangled problem of pensions (LA Times)
http://www.latimes.com/opinion/readersreact/la-ol-le-pensions-20170811-story.html

Editorial, Aug. 13, 2017: California taxpayers pay high cost for public employee pensions (Santa Cruz Sentinel)
http://www.santacruzsentinel.com/opinion/20170812/editorial-aug-13-2017-california-taxpayers-pay-high-cost-for-public-employee-pensions

Belvedere maps strategy to refinance unfunded pension liability (Marin Independent Journal)
http://www.marinij.com/general-news/20170811/belvedere-maps-strategy-to-refinance-unfunded-pension-liability

National Stories

Editorial: End pensions for part-time county work (Chicago Tribune)
http://www.chicagotribune.com/news/opinion/editorials/ct-pension-will-county-parttime-edit-0817-jm-20170816-story.html

MOODY SAYS NJ STILL A GAMBLE, DESPITE PENSION FUND TAPPING LOTTERY REVENUES (NJ Spotlight)
http://www.njspotlight.com/stories/17/08/16/moody-says-nj-still-a-gamble-despite-pension-fund-tapping-lottery-revenues/

Christie may not like what Wall Street just said about his plan to ease pension pain (NJ.com)
http://www.nj.com/politics/index.ssf/2017/08/lottery-pension_plan_doesnt_ease_njs_pension_pain.html

State retirees decry pension records request (Lansing State Journal)
http://www.lansingstatejournal.com/story/news/local/capitol/2017/08/16/michigan-state-government-retirees-decry-pension-records-request/568314001/

Minn. AG sues companies that required vets, seniors to sign over montly pensions (Fox 9)
http://www.fox9.com/news/274221266-story

Attorney General Lori Swanson sues "Pension Advance" companies requiring veterans and seniors to sign over monthly pensions (WDAY)
http://www.wday.com/news/4313259-attorney-general-lori-swanson-sues-pension-advance-companies-requiring-veterans-and

For Port Hueneme, budget situation is déjà vu (Ventura County Star)
http://www.vcstar.com/story/news/local/communities/port-hueneme/2017/08/15/port-hueneme-budget-dips-into-reserves-city-council-eyes-sales-tax/568685001/

Nowlan: Illinois’ high taxes, low services explained (Journal Star)
http://www.pjstar.com/opinion/20170815/nowlan-illinois-high-taxes-low-services-explained

N.J. lottery-pension plan "slightly positive," Wall Street ratings agency says (North Jersey)
http://www.northjersey.com/story/news/new-jersey/2017/08/15/nj-lottery-pension-plan-slightly-positive-wall-street-ratings-agency-says/568965001/

Leave Wisconsin Retirement System alone (Green Bay Press-Gazette)
http://www.greenbaypressgazette.com/story/opinion/columnists/2017/08/15/dont-change-wisconsin-retirement-system/566887001/

Critics Ignore How Public Pensions Benefit U.S. Taxpayers, NCPERS Finds
http://www.businesswire.com/news/home/20170815005565/en/Critics-Ignore-Public-Pensions-Benefit-U.S.-Taxpayers

Boston College's CRR On Alternatives In Pension Portfolios (Seeking Alpha)
https://seekingalpha.com/article/4098705-boston-colleges-crr-alternatives-pension-portfolios

Pension woes a national issue (The News-Gazette)
http://www.news-gazette.com/opinion/editorials/2017-08-15/pension-woes-national-issue.html

Oregon Schools Cut Staff, Programs Despite Budget Increases (AP)
https://www.usnews.com/news/best-states/oregon/articles/2017-08-14/oregon-schools-cut-staff-programs-despite-budget-increases

Mississippi Public Employees logs 14.96% return for fiscal year (Pensions & Investments)
http://www.pionline.com/article/20170814/ONLINE/170819956/mississippi-public-employees-logs-1496-return-for-fiscal-year

LETTERS TO THE EDITOR Why SC teacher pensions matter to all of us (The State)
http://www.thestate.com/opinion/letters-to-the-editor/article167095697.html

Court rejects KPERS effort to limit benefits for teachers union leaders (Lawrence Journal World)
http://www2.ljworld.com/news/2017/aug/14/court-rejects-kpers-effort-limit-benefits-teachers/

You can't unlock pension loan rules | Biz Brain (NJ.com)
http://www.nj.com/business/index.ssf/2017/08/you_cant_unlock_pension_loan_rules_biz_brain.html

The Global Retirement Savings Gap (Oye Times)
http://www.oyetimes.com/business/economy/182929-the-global-retirement-savings-gap