Tag: Pension funds
Janet Napolitano Makes History as University of California Pension Reformer

In an effort to control skyrocketing retirement costs in the massive University of California system, U.C. employees hired after July 1, 2016, will be able to choose a 401(k)-style pension plan, the first time this has been offered. Governor Jerry Brown and U.C. president Janet Napolitano negotiated the agreement, which was enshrined in the...
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Soaring Pension Costs Devour School Budgets in California

The revised budget unveiled in May by California Gov. Jerry Brown seeks to increase the amount of money that public school districts and their teachers would pay into the teacher pension fund going forward. The legislature must approve a budget by June 15 or legislators forfeit their pay until a budget is passed. The...
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CARTOON VIDEO: What About Bob? Social Security Talk in 2035

In 2011, the state of Illinois public pension was on the brink of disaster, with unfunded liabilities upward of $100 billion. By adjusting the benefits and contributions of current workers, the disaster was averted for those then retired. Those workers of 2011 “did their part” and are still working today, many of them into...
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Time for Government Budgets to Turn A New Leaf?

In 1971 Elaine May wrote, directed and starred in the now-classic “A New Leaf.” May played the awkward and painfully shy heiress Henrietta Lowell who has taken refuge in an academic career in botany and left the handling of her household and fortune to her hired help. The hired help, given full check-writing access...
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