A new lawsuit challenging San Jose’s voter-approved Measure B pension reform proposition has been filed in Santa Clara County Superior Court by the city’s Police Officers’ Association.
The city of San Jose and its police union have reached an agreement that will reduce pensions for new officers and ends a dispute over efforts to reduce costly retirement benefits.
Activists fighting climate change and the oil companies persuaded a San Francisco Board of Supervisors committee to move forward with a resolution Wednesday for the city’s retirement fund to divest from fossil fuel investments.
A new report said California needs to pay an additional $4.5 billion a year to shore up its financially shaky teacher retirement fund.
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.
San Jose police officers have been leaving in droves since the passage of the pension reform measure earlier this year. Now the force will suffer the loss of another member of its command staff.
The nation’s largest teachers’ pension fund says it will review its holdings after being criticized for having an investment in the manufacturer of an assault rifle used in last week’s Connecticut school massacre.
San Jose City Councilwoman Rose Herrera won re-election on Tuesday in a tough race where opponents made an issue of her support for pension reform.
Anyone who follows San Jose politics knows that the San Jose Police Officers Association and councilwoman Rose Herrera have long been at odds – particularly, over law enforcement budget cuts and pension reform. Their war of words only seems to be heating up as the November election nears.
California Gov. Jerry Brown signed legislation Friday that will create the nation’s first state-run retirement savings program for private-sector workers, over the objection of critics who said it creates a new liability for taxpayers.