Did CalPERS Use Accounting “Gimmicks” to Enable Financially Unsustainable Pensions?

By Edward Ring
01/24/2018
Gimmick – a concealed, usually devious aspect or feature of something, as a plan or deal. – Dictionary.com In the past week, from Millbrae’s city hall to the inner sanctum of the CalPERS leviathan in Sacramento, defenders of pensions have been active. In particular, they have criticized the recent analysis, published by the California Policy Center, “How...

TAGS: CalPERS, pension contribution increases, unfunded liability

The Fall of Pacific Grove – The Immediate Future

By John Moore
11/10/2015
The Final Chapter, Part 4 of 4 The facts and law indicate that the lawyers defending the city in the POA pension reform law suit, directed by the city attorney, and supported by a city council majority, consciously and intentionally failed to uphold two legal ordinances which could have prevented the financial “Fall of Pacific...

TAGS: "California Rule", challenges to the "California Rule", John Moore, Pacific Grove and CalPERS, Pacific Grove city council, Pacific Grove financial stress, Pacific Grove insolvency, Pacific Grove pension reform, pension contribution increases, The Fall of Pacific Grove, vested pension rights

The Fall of Pacific Grove – The Judge's Ruling

By John Moore
11/03/2015
The Final Chapter, Part 3 of 4 The parties to the law suit made final oral arguments, and on June 18, 2013, Judge Wills issued his Statement of Decision, setting forth his conclusions and the legal reasoning that led to his conclusions. First, he found that because the charter stated that the city council was...

TAGS: "California Rule", challenges to the "California Rule", John Moore, Pacific Grove and CalPERS, Pacific Grove city council, Pacific Grove financial stress, Pacific Grove insolvency, Pacific Grove pension reform, pension contribution increases, The Fall of Pacific Grove, vested pension rights

The Fall of Pacific Grove – The City's Tepid Defense of the Vested Rights Lawsuit

By John Moore
10/27/2015
The Final Chapter, Part 2 of 4 In June of 2010, the City of Pacific Grove (City) received an initiative petition from a citizen’s group containing the requisite number of signatures. Thereafter the city adopted the petition as an ordinance. The ordinance limited the city’s obligation to pay for employee pensions for work not yet...

TAGS: "California Rule", challenges to the "California Rule", John Moore, Pacific Grove and CalPERS, Pacific Grove city council, Pacific Grove financial stress, Pacific Grove insolvency, Pacific Grove pension reform, pension contribution increases, The Fall of Pacific Grove, vested pension rights

The Fall of Pacific Grove – A Primer on Vested Rights

By John Moore
10/20/2015
The Final Chapter, Part 1 of 4 Editor’s Note:  In early 2014 we published a eight part series, “The Fall of Pacific Grove,” written by retired attorney and Pacific Grove resident John Moore. It describes in detail how this small coastal city slid inexorably towards insolvency by yielding, again and again, year after year, to pressure...

TAGS: "California Rule", challenges to the "California Rule", John Moore, Pacific Grove and CalPERS, Pacific Grove city council, Pacific Grove financial stress, Pacific Grove insolvency, Pacific Grove pension reform, pension contribution increases, The Fall of Pacific Grove, vested pension rights