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News Archives

All the news that has appeared on PensionTsunami.com.

May 17, 2021

• Top Paid Los Angeles Lifeguards Earned Up to $392,000 in 2019 (Adam Andrzejewski / Forbes)
• Texas Considers Much Needed Reforms to Employees Retirement System (Leonard Gilroy / Reason Foundation)
• How Did Arizona Succeed With Pension Reform? With One Weird Trick . . . (Elizabeth Bauer / Forbes)

May 14, 2021

• Providence Mayor Elorza Seeks $704-Million Bond for Unfunded Pension Liability (Amy Russo / Providence Journal)

May 13, 2021

• California’s 944 School Districts: Strong Balance Sheets or Drowning in Debt? (John Moorlach / California Globe)
• F.B.I. Asking Questions After a Pension Fund Aimed High and Fell Short (Mary Williams Walsh / New York Times)
• County of Sonoma Provides Retirement System Annual Review (press release - Sonoma County)

May 12, 2021

• Cities Grapple With Stemming Pension Tide (David C.L. Bauer / Journal-Courier)
• Public Pensions Won’t Earn as Much From Investments in the Future. Here’s Why That Matters (Andrea Riquier / MarketWatch)
• To Pay $79 Million Owed to Retirement Fund, Montclair Turns to Pension Bonds (Steve Scauzillo / Daily Bulletin)
• The Wolf at San Jose's Door (David Crane / Medium)

May 11, 2021

• Rubbing Out Central States Debt (blog - John Bury / Burypensions)

May 10, 2021

• Costa Mesa Uses Federal Aid to End Worker Furloughs, Restore Missed Pay (Alicia Robinson / Orange County Register)

May 4, 2021

• Pending Bill Opens Door to Pension Corruption at CalPERS (Dan Walters / CALmatters)
• Pension Obligation Bonds a Bad Idea (letter - Dave Howell / Chico Enterprise-Record)

May 3, 2021

• Pension Plans Heading the Way of the Dodo: What’s Your Plan B? (Peter Reagan / WBAP Radio)
• Your Pension Board Thinks It’s Smarter Than Warren Buffett -- It’s Not (Edward Siedle / Forbes)

April 28, 2021

• It's Time to Rein in the Public Employee Unions (op-ed - James D. Veltmeyer, MD / Trinity Journal)$

April 26, 2021

• Apparently, No One Actually Wants Public Workers to Understand PERS (op-ed - Michael Schaus / Nevada Independent)

April 23, 2021

• Masks for Children, Muzzles for Covid-19 News (op-ed - Jay Bhattacharya / Wall Street Journal)$

April 21, 2021

• Lockdown Watch: A Zero-Risk Society Is Not a Reasonable Policy Proposal (Michael Schaus / Nevada Policy Research Institute)

April 6, 2021

• As of 5:40 AM (Pacific Time):
• LOL: Study Suggests There Is No Imminent Public Pension Crisis (Michael Katz / Chief Investment Officer)
• Multiemployer Pensions: Will the Recent Bailout Destroy Pensions (in the Long Run)? (blog - Mary Pat Campbell / STUMP)

April 1, 2021

• Rethinking Public Employee Retirement Plans (video - Bryan Snyder / Broadcast Retirement Network)
• CalPERS’ Broken Promises Mislead and Shortchange California State Worker Retirees (editorial - Sacramento Bee)
• Rising Costs of CalSTRS Debt Takes Money From Students, Classrooms (op-ed - Leonard Gilroy & Zachary Christensen / Orange County Register)
• Pension Reform Newsletter - Published Monthly (Alix Ollivier / Reason Foundation)

March 31, 2021

• Vermont Breaks the Bailout Code: It Now Has a Surplus It Wants to Use for Public Employee Pensions. (editorial - Wall Street Journal)

March 30, 2021

• COVID Stimulus Won’t Cure the Public Pension Pandemic (op-ed - Daniel J. Smith & Eileen Norcross / Fredericksburg Free Lance-Star)
• LA's Two Top-Earning Beach Lifeguards Made $400,000 in 2019 -- and 82 Others Made at Least $200,000 (Valerie Edwards / Daily Mail)

March 29, 2021

• Vermont State Employees, in Public Hearing, Call Pension Reform Proposal a 'Betrayal' (Greg Sukiennik / Bennington Banner)
• The Pension Bailout Hidden Within the COVID Relief Bill (op-ed - Peter Roff / The Sentinal)
• Breaking News: Another MPRA Filing to Cut Benefits (blog - John Bury / Burypensions)
• Retired Ohio Teamsters Take Victory Lap After Pension Fix Is Included in American Rescue Plan (Sabrina Eaton / Plain Dealer)

March 26, 2021

• California Is Still in Debt (column - Jon Mays / San Mateo Daily Journal)
• Gov. Newsom and Legislators Have Lots of Money to Spend, Few Strings Attached (Ben Christopher / CALmatters)
• Vermont Lawmakers Pitch Plan to Shore Up Pension Funds (Calvin Cutler / WCAX-TV)
• The Multiemployer Pension Bailout Is Huge. But Here Are the Retirees Still Waiting for Theirs (Elizabeth Bauer / Forbes)
• Washington Baits a Financial Trap for States (op-ed - David Guenthner / The Hill)

March 24, 2021

• Stimulus Wrongly Bails Out Multiemployer Pension Funds (editorial - Orange County Register)
• Money -- But No Fixes -- for Multiemployer Plans (editorial - Pensions & Investments)
• Secret CalPERS Meeting on CIO Meng’s Exit Sparks Legal Fight (Bloomberg News)
• CalPERS Board Member Theresa Taylor Outs That a Staff Member Has Committed Fraud; When Will Giant Pension Come Clean? (Yves Smith / Naked Capitalism)
• CIOs Assess How Pension Fund Investors Can Be Successful After COVID-19 (Sarah Min / Chief Investment Officer)

March 23, 2021

• Monterey Peninsula Cities Reeling From Employee Pension Debt (Dennis L. Taylor / Monterey Herald)
• State Supreme Court Refuses to Hear Case Involving Sonoma County Pension Hikes (Will Schmitt / Press Democrat)
• 'Bad Taste.’ CalPERS Board Regrets Pension Mistakes, But Votes to Deny Retiree Appeals (column - Andrew Sheeler / Sacramento Bee)

March 22, 2021

• Omaha Police Chief to Retire Within Next 5 Years, Will Get Pension of Nearly $15,000 Per Month (Alia Conley / World-Herald)
• State Audit Blames El Cerrito’s Financial Mismanagement for Pushing City Near Bankruptcy (Shomik Mukherjee / East Bay Times)
• She Gave Up a CalPERS Disability Pension to Go Back to Work. Now She Wants It Back (column - Andrew Sheeler / Sacramento Bee)
• CalPERS Search for CIO Comes Up Empty (Preeti Singh / Wall Street Journal)$$
• Huntington Beach Joins Wave of California Pension Bond Sales (Anastasia Bergeron / Bloomberg News)
• Explaining Dangers of Pension Obligation Bond (letter - Juanita Sumner / Chico Enterprise-Record)
• Lawmakers Look to Claw Back Felons’ Pensions (Sophie Cocke / Honolulu Star-Advertiser)$$
• Rethinking Public Employee Retirement Plans (Richard Hiller & Rod Crane / Reason)

March 18, 2021

• Thank Your Kids for Your COVID Handout -- They’ll Be Paying the Price for Years (op-ed - Jacob Sullum / New York Post)
• Democrats’ COVID-19 Relief Plan Penalizes Responsible States Like Idaho (op-ed - Gov. Brad Little / Idaho Mountain Express)

March 17, 2021

• Stop Bill Forcing Public to Support Government Union Bargaining (editorial - Orange County Register)

March 16, 2021

• Can Fiscal Alchemy Bolster Public Pension Funds? (column - Girard Miller / Governing)
• COVID Rescue Package Gives Failing Pension Plans an $86 Billion Bailout, Stirring Hope and Criticisms (Matt Stout / Boston Globe)
• CalPERS Told Her She’d Earn $60,000 a Year in Retirement. Her Pension Isn’t Even Close to That (column - Andrew Sheeler / Sacramento Bee)

March 15, 2021

• Pension Cuts for California Public Employee Felons Upheld (Daniel Borenstein / San Jose Mercury News)
• David Crane: California Man on a Mission (Larry Greenfield / Jewish Journal)

March 12, 2021

• Ex-CalPERS Board Member Sues Pension Fund, Demands Records Following Investment Chief’s Exit (column - Wes Venteicher / Sacramento Bee)
• Los Angeles Controller Launches Updated Payroll Explorer for Greater Insight Into City Salaries (press release - City of Los Angeles)

March 11, 2021

• Police Unions Won Power Using His Playbook. Now He’s Negotiating the Backlash. (Michael H. Keller & Kim Barker / New York Times)

March 9, 2021

• Rescue Package Includes $86 Billion Bailout for Failing Pension Funds (Mary Williams Walsh & Alan Rappeport / New York Times)
• MoneyPalooza Monstrosity: It Passed! More on the Multiemployer Pension Bailout (blog - Mary Pat Campbell / STUMP)
• GOP Targets California’s Underfunded Pensions in Effort to Sink Biden’s COVID Stimulus Plan (David Lightman / Sacramento Bee)
• Union Bill Uses COVID to Offer Tax-Free Pensions to California Public Employees (editorial - Orange County Register)
• Congress Undermines More Retirement Plans With Union Pension Rules (Aharon Friedman / Washington Examiner)
• Democrats Defend $86 Billion Bailout for Union Pensions in COVID Relief Bill (Stephen Loiaconi / Fox11)
• The Hopeful News for Social Security Buried in the $1.9 Trillion Bailout (Brett Arends / MarketWatch)

March 8, 2021

• Rising Costs of CalSTRS Debt Takes Money From Students, Classrooms (op-ed - Leonard Gilroy & Zachary Christensen / Orange County Register)
• Now That Multiemployer Plans Have Their Blank Check, What Can These Others Expect -- or Demand? (blog - John Bury / Burypensions)
• Moody's Report: Illinois’ Pension Debt Tops $300 Billion, Highest of Any State (Peter Hancock / The Telegraph)

March 5, 2021

• Moneypalooza Monstrosity -- the Return: Multiemployer Bailout Will This Encourage a Public Pension Bailout? (blog - Mary Pat Campbell / STUMP)

March 4, 2021

• Who Should Pay for Pension Mistakes? California Legislature Could Make a Change (column - Wes Venteicher / Sacramento Bee)
• Multiemployer Pension Reform Ruled Eligible For The COVID Relief Act (Seyfarth Shaw LLP / JD Supra)

March 3, 2021

• Prelude to a State Pension Bailout (op-ed - Andrew G. Biggs / Wall Street Journal)
• CalPERS $100,000 Pension Club Is Up 173% Since 2012, New Data Show (Robert Fellner / Transparent California)

March 2, 2021

• CalSTRS Aims for New $2 Billion Sustainable Portfolio (Randy Diamond / Chief Investment Officer)

March 1, 2021

• California’s Pension Woes Are Made Worse by Moving Emergency Services in House (Ike Brannon / Forbes)
• BART Faces 'Crisis Without Precedent': $1 Billion in Lost Revenue With Few Daily Commuters (Mallory Moench / Mass Transit)
• Pension Reform Newsletter - Published Monthly (Reason Foundation)

February 26, 2021

• After 225-Day Delay, South Pasadena Produces Records Within 24 Hours of Being Sued (Robert Fellner / Transparent California)
• South Pasadena Sued for Failing to Release Employee Pay Records for 225 Days (Jason Henry / Pasadena Star News)

February 25, 2021

• Covid-19 Relief Bill Could Rescue Union Retirees' Pensions (Emily Brill / Law360)
• Public Records Lawsuit Against CalPERS Over Disability Pensions Headed to the California Supreme Court (Robert Fellner / Transparent California)
• California Public Employees Disabled by Covid-19 Could Get Tax-Free Pensions Under Proposal (column - Wes Venteicher / San Luis Obispo Tribune)

February 24, 2021

• Cop Collected $600,000 in Disability Pension for a Broken Finger. CalPERS Wants Some Back (column - Wes Venteicher / Sacramento Bee)
• State Employee Retirements at CalPERS Jump 15% in 2020 (Sarah Min / Chief Investment Officer)

February 23, 2021

• Pennsylvania Treasurer Joe Torsella Tried to Reform the State’s Biggest Pension Funds. Then He Lost His Job. (Joseph N. DiStefano / Inquirer)
• Senate Bill Would End Florida’s Defined Benefit Pension Option for New Employees ( Jim Saunders / Tampa Bay Times)
• 'Pension Spiking' Approved for Hinsdale, Illinois Teachers Under New Pact (David Giuliani / Patch)
• Taking Account of State-Run Retirement Plans (John Iekel / ASPAA)

February 22, 2021

• Underfunded and Under Pressure, US Pensions to Keep Investing in China (Heather Gillers / Wall Street Journal)
• Special Report: Every State's Pension Crisis Ranked (Grant Suneson / 24/7 Wall St)
• Marin Pension Board Approves Contribution Rate Increases (Richard Halstead / Marin Independent Journal)

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