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San Bernardino To Pay Pensions Despite Bankruptcy

The city of San Bernardino has agreed to pay the California Public Employees’ Retirement System all that it owes in bankruptcy proceedings.


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Gov. Brown, California Pension Board To Consider Rate Increases

The board of the California Public Employees’ Retirement System is considering how municipalities and government agencies should absorb the mounting costs of retirees living longer.


A sign stands in front of California Public Employees' Retirement System building July 21, 2009 in Sacramento, California. CalPERS, the state's public employees retirement fund, reported a loss of 23.4%, its largest annual loss. (credit: Max Whittaker/Getty Images)

Lawsuit Alleges Over 100,000 Retirees Misled Over Rate Hike By CalPERS

A class action lawsuit filed Tuesday accuses CalPERS of intentionally misleading over 100,000 retirees over the past 18 years by selling them long-term insurance that turned out to be insufficiently funded and under duress for a decade.


(credit: CBS)

Ex-CalPERS CEO, Board Member Charged With Fraud

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.

CBS2 / KCAL9–03/18/2013

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Calif. Treasurer Eyes Pension Divestment From Gun Manufacturers

State Treasurer Bill Lockyer is calling for a review of state pension fund investments connected to a company that manufactures firearms – including a type of rifle used in the Connecticut school shootings.


(credit: Max Whittaker/Getty Images)

CalPERS Funds Stung By Stock Market Decline

The turmoil on Wall Street has hit the nation’s largest public pension fund, which has lost about $18 billion off the value of its stock portfolio since July 1.


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Convicted Ex-Mayor Of Temple City Can Keep Pension, Medical Coverage

Former Temple City Mayor Cathe Wilson will continue to receive pension checks even though she was convicted of perjury and bribery and was sentenced in June to four years in state prison.


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Disability Pensions Of Ex-Bell Police Officers Under Scrutiny

The office that manages retirement benefits for California public employees is looking into the validity of pension plans for at least 10 police officers, including four chiefs, who retired from the city of Bell.


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Lower Forecast Rejected For Calif. Pension Fund

Board members of the nation’s largest public pension fund on Tuesday rejected a proposal to reduce its forecast of future investment returns, avoiding the politically sensitive move of demanding more money from state or local governments this year.


(credit: Max Whittaker/Getty Images)

Fifty-Six Page Report On Alleged CalPERS Fraud Released Tuesday

Money managers have paid more than $180 million to middlemen as a way to gain investment business from the nation’s largest public pension fund, and at least some of those costs likely ended up being paid by the fund itself through inflated fees.


(credit: Max Whittaker/Getty Images)

Calif. Pension Fund May Reduce Investment Target

The nation’s largest public pension fund could make a small accounting change that would carry a large price tag for taxpayers when board members meet this week.



Report: California Pensions Cost Each Resident $3,000

An independent think tank says California’s pension fund is awash in red ink, and the burden for every worker in the state could rise to $10,000 a year by 2014.


(Credit: AP)

Report: CalPERS Doled Out Bonuses, Raises

As its investment portfolio was losing nearly a quarter of its value, the country’s largest public pension fund doled out six-figure bonuses and substantial raises to its top employees, an analysis by The Associated Press has found.