Economy

Pension costs for state and local government will begin to rise in 2017 after CalPERS officials voted to throttle back the expectations on profits earned from its $299 billion portfolio.

As they suit up for battle against the Trump administration, Democrats who dominate California’s Legislature vow to unleash one of the superpowers of holding a supermajority: the ability to enact laws immediately.An underplayed consequence of the fact that they won two-thirds of the seats in both houses last month is that—if they stick together—California Democrats […]

California faces a $240 billion unfunded pension liability. But retired state workers who receive pensions say they are tired of drawing public blame.

Retirement benefits now eat up 20% of city’s general fund revenue. Touted cost controls won't have real impact for decades.

Gov. Jerry Brown was confident his-12 point plan could reform California’s pension crisis. Five years later, the state’s unfunded liabilities continue to pile up with little change. CALmatter’s Judy Lin explains why the plan failed to progress.

A case before the state Supreme Court could clear the way for reductions in public retiree benefits, which have become hugely expensive. But the outcome is “hard to predict.”

Capital Public Radio continues its series with the LA Times and CALmatters on our state’s pension crisis but this time, comparing it to the dire state of affairs in Illinois.

As California’s public-employee pension crisis grows—with taxpayers on the hook for hundreds of billions of dollars, and no clear plan for how to pay—other states are facing similar problems, and have lessons to teach.

Gov. Pete Wilson tried to wrest key powers from the CalPERS board. A labor-led counterattack left the board more independent than ever.