Salinas, California Public Hospital President’s $4 Million Retirement Pay Spotlights Issue of ‘Supplemental’ Pensions
The president and CEO of a Salinas, Calif.-area public hospital district will receive nearly $4 million in retirement pay on top of his $150,000 annual pension. Such ‘supplemental’ pensions are one focus of criticism over the way public officials are … Continue reading
For Councilmen in Vernon, California the Living Is Easy
Critics say their lifestyle — large salaries, excellent benefits, below-market housing rentals — is proof the city is a fiefdom that benefits its ruling clique. Officials say they know changes are needed. To be a councilman in Vernon is to … Continue reading
CalPERS Scandal Makes Reform Urgent
The last thing California’s and the nation’s largest public employee pension system needs is a corruption scandal. But that is what has emerged from a scathing report prepared for the California Public Employees’ Retirement System by Washington law firm Steptoe … Continue reading
For CalPERS and CalSTRS, Reform Does Not Begin at Home
The nation’s two largest public pension funds, CalPERS and CalSTRS, are stepping up their drive to reform corporate boards of directors at a time when others are proposing reforms of pension boards. A new listing of potential directors announced by … Continue reading
Scandal Shows It Is Time to Reform CalPERS
THE LAST thing California’s and the nation’s largest public employee pension system needs is a corruption scandal. But that is what has emerged from a scathing report prepared for the California Public Employees’ Retirement System by Washington law firm Steptoe … Continue reading
CalPERS Chief Sorry for Scandal, Says Fund Will ‘Take … Action’
In an open letter released today, CalPERS Chief Executive Officer Anne Stausboll says she’s sorry that recent revelations of alleged wrongdoings by high-ranking former fund officials has put a cloud over the organization’s integrity. “Still, I believe, as does our … Continue reading
Ousted City Manager of Bell, California Indicted for Conspiring to Illegally Boost Pension
Former city administrator and his assistant conducted an elaborate plan to conceal benefits and bypass state law by hiding their true pensions, an indictment says. Former Bell City Administrator Robert Rizzo and his assistant spent seven years conspiring to illegally … Continue reading
Mayor of Rocklin, California Wants City to Sue CalPERS
In a surprise move last week, Mayor George Magnuson called for a lawsuit against the California Public Employees’ Retirement System. “I would like to have a closed session and take a look at the probability of filing a lawsuit against … Continue reading
