City Hall in Stockton. (CBS)

Lenders Say Stockton Bankruptcy Costing Millions, While City Continues Pension Payments

A bond insurer said lenders are losing millions in Stockton’s bankruptcy while the city continues to fund pricey pensions.



CalPERS Reports Dismal 1 Percent Return

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.


Same-sex marriage supporters outside the California Supreme Court building in San Francisco. (Justin Sullivan/Getty Images)

‘Defense Of Marriage Act’ Provision Struck Down By Oakland Federal Judge

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.



CalPERS Lowers Forecast For Investment Returns

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.


San Jose City Hall

San Jose City Council Members Seek To End Their Own Pensions

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.


California State Capitol in Sacramento (Justin Sullivan/Getty Images)

Stanford Study Finds California Pension Costs Skyrocketing

The Stanford Institute for Economic Policy Research said the shortfall in the plans that cover 2.6 million California teachers, state workers and university employees is too large to be solved only by cutting future payouts.


Gov. Jerry Brown

Governor Brown Outlines Sweeping Pension Reform Plan

California Governor Jerry Brown outlined his 12-point pension reform plan at a news conference and said it was time to fix a broken system.



Marin County Cities Launch Pension Reform Efforts

Elected officials from throughout Marin County have joined together in an effort to address the pressing issue of pension reform – something that is impacting towns and cities throughout the county.


California Governor Jerry Brown

Brown Seeks To Chip Away At Calif’s ‘Wall Of Debt’

Gov. Jerry Brown said it’s time to pay up. He wants to start reducing the state’s debt and tens of billions more in accounting gimmicks, temporary loans and delayed payments.

CBS San Francisco–05/18/2011

Gov. Jerry Brown

Brown Releases Plan For Calif. Pension Changes

Gov. Jerry Brown released a 12-point proposal to revamp California’s public-employee pensions Thursday.

KPIX 5 | CBS San Francisco–03/31/2011