A proposed ballot measure unveiled Thursday would reduce pension payments for state and local government employees in the nation’s most populous state.
It was originally going to be the home of a 53-story condominium tower, promised as the tallest residential highrise west of the Mississippi River. Construction had started in 2006, but now it’s quiet. The towers never got off the ground, and some of the completed foundation now sits exposed in the weeds of the dirt lot.
After a successful early career in sales and retail management, Sacramento’s Ron Klint decided it was time for a change.
Reno, Nevada, police officer Tim Broadway said Wednesday that detectives were investigating the death Tuesday of Alfred Villalobos as an apparent suicide.
A federal bankruptcy judge ruled Wednesday that Stockton’s pension issues were no different than its other bills, leaving the door open for the city to slash payments once thought protected.
A state pension fund committee has approved retirement calculations for new hires despite concerns about pension spiking raised by Gov. Jerry Brown and local governments.
Fred Buenrostro Jr. pleaded guilty in San Francisco federal court to fraud and bribery charges stemming from his time as chief executive of the California Public Employees’ Retirement System from 2002 to 2008.
One of the nation’s largest public pension funds moved Yolo County into the Sacramento region, but left nearly half a dozen others in its Bay Area region, despite the fact some are more than 100 miles away.
A public employee who lives in Sacramento could see their health care coverage cost jump as high as 15 percent just by moving a few miles to West Sacramento.
Projections show workers are expected to live an average of as much as two years longer, driving up the cost of paying benefits to people until they die. Women retiring at age 55 in 2028 are expected to live to 87.
He urged California’s largest public pension fund to act quickly to address rising costs saying failure to do so would widen the fund’s liabilities by billions of dollars.
In Gov. Jerry Brown’s promise to start paying off California’s massive liabilities, the largest single unfunded debt will not be seeing any additional pay-down in the coming fiscal year.