CalPERS still hasn’t issued their actuarial analyses for the period ending 6/30/2018, even though a year ago, the 6/30/2017 analyses were available. Could it be related to the fact that the DJIA index on 10/01/2018 was 26,447 and as of midday 10/01/2019 it sits at 26,599? Did CalPERS have a bad year and what does that mean? What...

The virtue of a defined contribution plan is that once the employer has made their contribution, the employer’s obligation is fulfilled. The employee’s retirement benefit is based on a “defined” contribution – typically some fixed percentage of their base pay – that money is invested, and the retiree lives on the accumulated savings and interest....

Last week, Sen. Elizabeth Warren (D-MA), a 2020 presidential candidate, proposed a plan to rein in private equity funds that engage in leveraged buyouts—acquiring companies with large amounts of borrowed money. Although the idea of cracking down on financial engineering is attractive to many, it could have the unintended consequence of lowering asset returns for public...

Based on an estimated total membership of 1.1 million and average dues per member of around $700, California’s public sector unions collect and spend approximately $800 million per year. The impact of the June 2018 decision by the U.S. Supreme Court in the case Janus vs AFSCME may have chopped around $50 million off that annual total, by eliminating the union’s...

In 2012, San Diego voters approved Proposition B, a pension reform measure that replaced pensions for new hires with a 401K plan. Seven years later, this reform is likely to be completely unwound, because union attorneys successfully argued that the city did not “meet and confer” with the unions before putting the reform measure on...

Earlier this week the California Supreme Court ruled in the case CalFire vs CalPERS. The case challenged one of the provisions of California’s 2014 pension reform legislation (PEPRA) which had eliminated the purchase of “Airtime.” This was the practice whereby retiring public employees could purchase “service credits” that would lengthen the number of years they worked,...

MEDIA ADVISORY from the LIBERTY JUSTICE CENTER and CALIFORNIA POLICY CENTER MEDIA CONTACTS Kristen Williamson kwilliamson@libertyjusticecenter.org or 847-651-8611 Will Swaim will@californiapolicycenter.org or 949-274-1911 EMBARGOED until Nov. 13 at 10 a.m. PST Janus attorneys and California Policy Center represent Los Angeles teacher in lawsuit against LAUSD, UTLA LOS ANGELES (Nov. 13, 2018) – Attorneys from the Liberty Justice Center and the...

Sacramento — The U.S. Supreme Court is attacking working people by destroying public-sector unions. That’s the gist of the argument that the union movement has made as the court considered Janus v. the American Federation of State, Municipal and County Employees (AFSCME). Actually, their arguments were far more overheated, both before and after the high court ruled in June that...

Sacramento — California’s public-sector unions are so accustomed to getting their way in the state Capitol that it’s almost entertaining watching them respond to a coming U.S. Supreme Court decision that is likely to slash their political and economic power. They are sponsoring a variety of bills designed to mute that decision, but there’s surprisingly...

Sacramento Despite a stinging rebuke from Gov. Jerry Brown last year, California’s union-allied lawmakers are back with a plan to force private employees working for privately funded organizations to provide their cellphone numbers and home addresses to any union organizer that demands them. The bill’s backers want to intimidate people into paying union dues, even...