Federal officials on Monday charged the former head of the nation’s largest pension fund and one of his business associates with falsifying documents and other charges in a long-running influence peddling and bribery investigation.
California’s largest public pension system has approved divesting from companies that make guns and high-capacity ammunition magazines that are illegal in the state.
Vacaville police arrested a California Public Employees Retirement System employee Friday on suspicion of stealing the identity of a retired Vacaville resident to obtain loans without the victim’s knowledge.
California jobs records show many full-time state workers are moonlighting with second jobs in the same department.
Moody’s is calling California’s pension reform plan a positive development for the state and local governments.
A bond insurer said lenders are losing millions in Stockton’s bankruptcy while the city continues to fund pricey pensions.
The nation’s largest public pension fund reported a dismal 1 percent return on its investments, a figure far short of projections that will likely add pressure on California’s state and local governments to contribute more.
A federal judge ruled in Oakland that the state’s public-employee pension system must make long-term care insurance equally available to same-sex spouses and partners.
California’s largest public pension fund has voted to lower its estimate for annual investment returns, meaning it will need more money from the state, school districts and local governments to maintain its ability to fund promised retirement benefits.
The city council voted unanimously on Tuesday to notify the California Public Employees’ Retirement System that the city intends to end the pension plan for council members.