Post by jeffolie on Feb 22, 2012 17:40:32 GMT -6
Cal city & county Reps+dem Gov united
Strange bedfellows ... pensions in trouble ... "... “Now it’s up to the governor to get the Democrats on board.”
" ... The proposals, which would require public employees to pay more for their retirement and cut benefits for new hires, have rankled some Democrats and their political allies in organized labor. Brown sent proposed bill language to the Legislature nearly three weeks ago, but, as Republicans noted, no lawmaker in his own party has stepped up to formally introduce legislation ... "
"... Republican lawmakers lined up behind Gov. Jerry Brown’s plan to overhaul public pensions Wednesday, and called on Democrats to support the leader of their party. ... "
==========================
California city and county pensions in trouble, report says
February 21, 2012
Many of California's biggest local governments spend an average of 10 cents of every dollar covering pension costs, according to a study siepr.stanford.edu/system/files/shared/pubs/papers/pdf/Nation_More_Pension.pdf of the largest independent pension plans released Tuesday.
The study siepr.stanford.edu/system/files/shared/pubs/papers/pdf/Nation_More_Pension.pdf , by Stanford professor and former Assemblyman Joe Nation and a junior at the school who is a member of a nonprofit that studies California governance, examines plans for cities and counties that do not rely on the state's largest public pension group, CalPERS. They include the city and county of Los Angeles, the cities of Fresno, San Jose, San Francisco and San Diego, and other jurisdictions. The pension plan unveiled by Gov. Jerry Brown last year is intended to change these plans, as well as thousands of other local ones run by CalPERS.
The study found that pension spending grew by 11.4% over the past decade in the 24 largest independent pensions, larger than any other category of government spending. "That rapid growth," the report states, "is likely to accelerate over the foreseeable future, exerting pressure on spending in other categories."
The report pinned the debt of the plans at between $36 billion and $136 billion. The wide range stems from a disagreement over how well plans should assume their investments will pay off. The plans' optimistic estimates lead to the lower number, while the study's authors favor a more conservative rate of return that would lead to greater debt.
Though the report is sparse on political rhetoric, it follows two other ones from Nation that defenders of government pensions have contended are unduly alarmist about the health of the retirement systems.
"Ironic [that as] the Dow is reaching new heights and the economy continues to recover, they continue to crop the picture using data from the depths of the recession," said Steve Maviglio, a spokesman for public sector unions fighting pension changes, said in an email.
latimesblogs.latimes.com/california-politics/2012/02/california-pension-trouble-report.html
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In curveball, GOP leaders back Gov. Jerry Brown's pension overhaul
February 22, 2012
Throwing a political curveball, Republican lawmakers lined up behind Gov. Jerry Brown’s plan to overhaul public pensions Wednesday, and called on Democrats to support the leader of their party.
Backed by the GOP caucus at a Capitol news conference, Republican leaders said they had introduced a series of bills that mirror the 12-point plan the governor introduced last fall. Lawmakers said the action was necessary, accusing Democrats of doing little more than paying lip service to the issue.
“Today, we are stepping up to the plate, showing Republicans are united behind the governor’s plan,” said GOP Assembly leader Connie Conway (R-Tulare). “Now it’s up to the governor to get the Democrats on board.”
The proposals, which would require public employees to pay more for their retirement and cut benefits for new hires, have rankled some Democrats and their political allies in organized labor. Brown sent proposed bill language to the Legislature nearly three weeks ago, but, as Republicans noted, no lawmaker in his own party has stepped up to formally introduce legislation.
Brown was out of state Wednesday, traveling to Washington, D.C., to attend the winter meeting of the National Governors Assn. In a statement, Brown's office didn't even acknowledge the Republican support.
"Governor Brown believes the need for pension reform is urgent," said spokesman Evan Westrup. "We will continue to work with the Legislature to enact serious reforms."
A bipartisan legislative committee is studying the governor’s plan, but Republicans said progress was being hampered by union pressure.
Last year, Republicans had pushed some of the same ideas in budget negotiations with Brown but the talks fell apart. The governor had hoped to win GOP votes for his tax plan in exchange for changes to California’s pension system. At the time, Republicans said Brown’s proposals didn’t go far enough.
On Wednesday, GOP leaders said the dynamic had changed.
“There’s no strings attached to this,” said Republican Senate leader Bob Huff (R-Diamond Bar). “It’s just good government reform needed in pensions and we’re willing to help that come about.”
latimesblogs.latimes.com/california-politics/2012/02/california-gop-leaders-unveil-pension-reform-legislation.html
Strange bedfellows ... pensions in trouble ... "... “Now it’s up to the governor to get the Democrats on board.”
" ... The proposals, which would require public employees to pay more for their retirement and cut benefits for new hires, have rankled some Democrats and their political allies in organized labor. Brown sent proposed bill language to the Legislature nearly three weeks ago, but, as Republicans noted, no lawmaker in his own party has stepped up to formally introduce legislation ... "
"... Republican lawmakers lined up behind Gov. Jerry Brown’s plan to overhaul public pensions Wednesday, and called on Democrats to support the leader of their party. ... "
==========================
California city and county pensions in trouble, report says
February 21, 2012
Many of California's biggest local governments spend an average of 10 cents of every dollar covering pension costs, according to a study siepr.stanford.edu/system/files/shared/pubs/papers/pdf/Nation_More_Pension.pdf of the largest independent pension plans released Tuesday.
The study siepr.stanford.edu/system/files/shared/pubs/papers/pdf/Nation_More_Pension.pdf , by Stanford professor and former Assemblyman Joe Nation and a junior at the school who is a member of a nonprofit that studies California governance, examines plans for cities and counties that do not rely on the state's largest public pension group, CalPERS. They include the city and county of Los Angeles, the cities of Fresno, San Jose, San Francisco and San Diego, and other jurisdictions. The pension plan unveiled by Gov. Jerry Brown last year is intended to change these plans, as well as thousands of other local ones run by CalPERS.
The study found that pension spending grew by 11.4% over the past decade in the 24 largest independent pensions, larger than any other category of government spending. "That rapid growth," the report states, "is likely to accelerate over the foreseeable future, exerting pressure on spending in other categories."
The report pinned the debt of the plans at between $36 billion and $136 billion. The wide range stems from a disagreement over how well plans should assume their investments will pay off. The plans' optimistic estimates lead to the lower number, while the study's authors favor a more conservative rate of return that would lead to greater debt.
Though the report is sparse on political rhetoric, it follows two other ones from Nation that defenders of government pensions have contended are unduly alarmist about the health of the retirement systems.
"Ironic [that as] the Dow is reaching new heights and the economy continues to recover, they continue to crop the picture using data from the depths of the recession," said Steve Maviglio, a spokesman for public sector unions fighting pension changes, said in an email.
latimesblogs.latimes.com/california-politics/2012/02/california-pension-trouble-report.html
-----------------
In curveball, GOP leaders back Gov. Jerry Brown's pension overhaul
February 22, 2012
Throwing a political curveball, Republican lawmakers lined up behind Gov. Jerry Brown’s plan to overhaul public pensions Wednesday, and called on Democrats to support the leader of their party.
Backed by the GOP caucus at a Capitol news conference, Republican leaders said they had introduced a series of bills that mirror the 12-point plan the governor introduced last fall. Lawmakers said the action was necessary, accusing Democrats of doing little more than paying lip service to the issue.
“Today, we are stepping up to the plate, showing Republicans are united behind the governor’s plan,” said GOP Assembly leader Connie Conway (R-Tulare). “Now it’s up to the governor to get the Democrats on board.”
The proposals, which would require public employees to pay more for their retirement and cut benefits for new hires, have rankled some Democrats and their political allies in organized labor. Brown sent proposed bill language to the Legislature nearly three weeks ago, but, as Republicans noted, no lawmaker in his own party has stepped up to formally introduce legislation.
Brown was out of state Wednesday, traveling to Washington, D.C., to attend the winter meeting of the National Governors Assn. In a statement, Brown's office didn't even acknowledge the Republican support.
"Governor Brown believes the need for pension reform is urgent," said spokesman Evan Westrup. "We will continue to work with the Legislature to enact serious reforms."
A bipartisan legislative committee is studying the governor’s plan, but Republicans said progress was being hampered by union pressure.
Last year, Republicans had pushed some of the same ideas in budget negotiations with Brown but the talks fell apart. The governor had hoped to win GOP votes for his tax plan in exchange for changes to California’s pension system. At the time, Republicans said Brown’s proposals didn’t go far enough.
On Wednesday, GOP leaders said the dynamic had changed.
“There’s no strings attached to this,” said Republican Senate leader Bob Huff (R-Diamond Bar). “It’s just good government reform needed in pensions and we’re willing to help that come about.”
latimesblogs.latimes.com/california-politics/2012/02/california-gop-leaders-unveil-pension-reform-legislation.html