“This is yet another destined-to-fail attempt to eliminate the retirement security of teachers, firefighters, school bus drivers and other public employees they have earned and agreed to in good faith at the bargaining table.
Latest Press Releases
More than 100 firefighters, teachers, police officers, school employees and other public servants today protested an expected November 2016 ballot measure that would eliminate retirement security for millions of Californians.
The demonstration took place outside a meeting hosted for proponents of the effort by the right-wing Reason Foundation featuring former San Jose Mayor Chuck Reed and former San Diego city council member Carl DeMaio.
In response to Judge Klein’s opinion approving Stockton’s bankruptcy plan today, leading pension attorney Teague Paterson of Beeson, Tayer & Bodine, who filed an amicus brief for Peace Officers Association of California in this case, has made the following statement:
By Jack Ehnes
By creating the illusion of a catastrophic pension crisis, pension critics would have you believe that the only way to create a sound and sustainable retirement savings program is to move away from a defined benefit pension, preferably replaced with a defined contribution or perhaps none all. Many recent studies, media articles and now a new ballot initiative are based on the same flawed logic.
by Carolyn Constantino
A new website reveals that Enron-billionaire John Arnold has spent up to $50 million of his own fortune to dismantle retirement plans for firefighters, nurses, teachers and other public employees.
By Tim Reid
Public worker unions and others who back traditional pensions over 401(k)-style plans got ammunition on Tuesday from a new study that shows U.S. state governments that made the switch did not achieve the predicted savings but rather lost money.
The National Institute on Retirement Security (NERS), a non-profit group that has defended traditional public pensions, issued case studies on three states that switched to 401(k)-style defined contribution retirement plans.
Conclusions on the implications of the Stockton bankruptcy.
Statement from Dave Low, Chair, Californians for Retirement Security, on October 30 Stockton decision:
Statement of Dave Low, Chairman, Californians for Retirement Security, a coalition of more than 1.2 million teachers, police officers, firefighters, school employees, retirees, and other public employees:
CalPERS Pension Benefits Generate $30 Billion in Economic Activity
Additional $20 Billion invested in California
SACRAMENTO, CA - More than $30 billion in economic activity was generated by retirement benefits paid by the State’s pension fund, according to a study released by the California Public Employees’ Retirement System (CalPERS).