17 06, 2014

CalSTRS Commends the Legislature on Passage of AB 1469

2014-06-17T20:14:25-07:00June 17th, 2014|Categories: Retirement|Tags: , , , |

California State Teachers’ Retirement System (CalSTRS) Chief Executive Officer Jack Ehnes issued the following statement in response to the Legislature’s approval of Assembly Bill 1469, which provide a long-term funding plan for CalSTRS: “CalSTRS commends the Legislature for upholding its intent to enact a funding plan this year, as evidenced in the passage of AB 1469. The long-term funding solution set out in this historic legislation sets the Defined Benefit Program on a sustainable course, and ensures a secure retirement [...]

11 02, 2014

Legislature Wakes Up to Pension Problem

2014-02-11T23:26:08-07:00February 11th, 2014|Categories: Pension Reform|Tags: , , |

Is it possible that the California Legislature is finally coming to grips with the public employee pension crisis? We certainly hope so. For years, our political leadership has behaved more like ostriches with their heads buried in the sand regarding the many billions of dollars of “unfunded liabilities” in California’s pension funds. Unlike most retirement plans in the private sector, government workers get “defined benefit” plans that guarantee fixed payments to retirees, no matter how well the underlying investments [...]