Report: CalPERS Doled Out Bonuses, Raises
SACRAMENTO (AP) — As its investment portfolio was losing nearly a quarter of its value, the country’s largest public pension fund doled out six-figure bonuses and substantial raises to its top...
View ArticleReport: Bell Police Chief Filed False Disability Pension Claim
BELL (CBS) — Days after council members of this embattled city were arrested on corruption charges, a new report says the former police chief falsely declared himself disabled in order to reduce taxes...
View ArticleLADWP Faces Pension Problems
LOS ANGELES (AP) — The Los Angeles Department of Water and Power is facing pension troubles. The city utility says it can’t afford retirement costs for 1,600 workers transferred from other city...
View ArticleLA Pension Plan Delays Retirement Pay For Police, Firefighters
LOS ANGELES (CBS) — City officials unveiled a proposed pension reform plan for police and fire departments on Monday, one they say will save the city hundreds of millions of dollars, but requires...
View ArticleController Unveils Salary Information For 600,000 City, County Employees
LOS ANGELES (CBS) — State Controller John Chiang has unveiled a new Web site listing the salary, pension benefits and other compensation for nearly 600,000 city and county employees throughout...
View ArticleCity Council Sends LA Pension Reform To Voters
LOS ANGELES (CBS) — Faced with soaring pension costs, the Los Angeles City Council unanimously agreed on Tuesday to ask voters to scale back the retirement pay of future city police officers and...
View ArticleUnions Blast Villaraigosa Over LA Pension Reform Plan
LOS ANGELES (CBS) — Mayor Antonio Villaraigosa on Wednesday unveiled a pension reform proposal estimated to save the city $1.5 billion over the next 20 years, but union leaders claimed it would leave...
View ArticleDocuments May Prove Salary, Pension Abuses In Bell
BELL (AP) — Members of the police union for the scandal-plagued city of Bell plan to release documents they say show salary, pension and other abuses committed by police officials and others. The Bell...
View ArticleCalif. SEIU Workers OK Pay, Pension Cuts
SACRAMENTO (AP) — Members of the largest state employee union have approved a contract that cuts pay by nearly 5 percent for 95,000 government workers and rolls back pension benefits. Service Employees...
View ArticleRiverside County Hires Firms For Pension Fund Reviews
RIVERSIDE (CBS) — Three firms with expertise in structuring pension plans were hired Tuesday by the Riverside County Board of Supervisors to research the impact of reforms proposed to reduce the...
View Article2 OC Officials On Leave For $228M Pension Error
SANTA ANA (AP) — Two Orange County officials have been placed on paid leave following the discovery of a computer error that resulted in a $228 million mistake in funding for pensions for county...
View ArticleCosta Mesa May Outsource Firefighting, Street Sweeping Services
COSTA MESA (CBS) — City Council members will decide on Tuesday night whether to outsource firefighting and other key services to help whittle down a multimillion-dollar budget deficit. Council members...
View ArticleMayor Calls For Freeze On LA Retiree Benefits
LOS ANGELES (CBS/AP) — Mayor Antonio Villaraigosa called on lawmakers Wednesday to approve an across-the-board freeze in retirees’ health care benefits to offset a projected $350 million deficit in the...
View ArticleCA Teacher Pension Fund Shortfall Grows To $56 Billion
SACRAMENTO (AP) — The pension fund for California’s teachers is facing a $56 billion shortfall, even as its investments are doing better than expected. The drop reported Thursday is enough to trigger...
View ArticleProsecutors: Ponzi Scheme Conned $7M From LA Transit Retirees
LOS ANGELES (CBS) — A San Fernando Valley man accused of conning Los Angeles County transit pensioners out of an estimated $7 million in a Ponzi scheme pleaded guilty on Friday. Prosecutors say Thomas...
View ArticlePoll: Majority Of Voters Want Pension Reform For Calif. Workers
LOS ANGELES (CBS) — An overwhelming number of Californians from across the political spectrum support plans to reform the pension system for public workers, according to a poll published on Monday. The...
View ArticleJerry Brown Tells AP Budget Reforms Are Near
SACRAMENTO (AP) — Gov. Jerry Brown said Tuesday that he is making progress on pension and other government reforms but needs Republican lawmakers to agree to extend temporary taxes until a statewide...
View ArticleConvicted Ex-Mayor Of Temple City Can Keep Pension, Medical Coverage
TEMPLE CITY (AP) — Former Temple City Mayor Cathe Wilson will continue to receive pension checks even though she was convicted of perjury and bribery and was sentenced in June to four years in state...
View ArticlePolice, Teachers, Firefighters Defend Public Pensions In Carson
LOS ANGELES (CBS)— A state legislative panel met in Carson on Wednesday in the first of what is likely to be several hearings on a hotly-debated topic: public pension reform. KNX 1070′s Jon Baird...
View ArticleGovernor Brown Seeks Pension Reforms, Raising Retirement Age
SACRAMENTO (AP) — Gov. Jerry Brown will propose sweeping rollbacks to public employee pension benefits, including raising the retirement age to 67 for new employees who are not public safety workers...
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