Economy

INSIGHT WITH BETH RUYAK | California Pension Crisis: Richmond

How are cities across California responding to the ballooning cost of pensions in the state? CALmatters Reporter Judy Lin explores a case study in Richmond where priority police and library services are already being cut.

By

CalMatters Staff

• February 8, 2017

Economy

Richmond Makes Cuts To Services As Pension Costs For Public-Sector Workers Mount

Many cities across California face rising costs for public employee retirement benefits. And for some, that’s laying bare a stark reality — it’s getting tougher to provide basic services and meet the pension obligations promised years ago.

By

CalMatters Staff

• February 6, 2017

Economy

Cutting jobs, street repairs, library books to keep up with pensions

Generous retirement benefits for public safety employees could help push the Bay Area city of Richmond into bankruptcy

By

Judy Lin

• February 6, 2017

Economy

Out with TPP—where does that leave Pacific Rim trade?

On his first day in office, Trump signed an executive order to withdraw from the Trans-Pacific Partnership, a pact that involved 12 Pacific Rim countries to lower or eliminate tariffs and promote exports. He has also vowed to renegotiate the North American Free Trade Agreement, a deal between the U.S., Mexico and Canada to remove trade barriers.

By

Judy Lin

• January 31, 2017

Economy

El Monte’s mayor wants to end bonus pensions costing millions but his hands are tied

The mayor of El Monte, a cash-strapped San Gabriel Valley city with many retired employees drawing two pensions, says there’s "no rational justification" for the double pensions.

By

CalMatters Staff

• January 26, 2017

Economy

California’s undocumented kids could be first to lose medical care under Trump

On a recent rainy morning in Los Angeles, Maria Bernal’s stove clicks to life with a bright blue flame to toast bread on a griddle for her 9-year-old son Edwin to smear with peanut butter. As she scoops papaya chunks into the blender for a smoothie, she recalls her worry during all the years when […]

By

Elizabeth Aguilera

• January 25, 2017

Economy

State stops refusing extra welfare to moms who have more children

Rocio Zavala is doing her best to keep her daughter from eating her coupons. It’s 11:30 on a Friday morning and Zavala, 30 years old and unemployed, is sitting at a foldout table in her living room, snipping, sorting, and stacking the freshly clipped squares of paper, while cooing at 3-year-old Deysy. The mother’s hands […]

By

Ben Christopher

• January 11, 2017

Economy

When city retirement pays better than the job

One in four El Monte residents lives in poverty. Yet taxpayers pay a steep price to fund bonus pensions and other perks for city workers.

By

CalMatters Staff

• December 30, 2016

Economy

A Case Study On Pension Reform: San Jose’s Grand Compromise

Cities and states across the country are facing public employee pension debt that is challenging and, in some cases, crippling their budgets. But some municipalities are experimenting with ways to solve that problem.

By

CalMatters Staff

• December 29, 2016

Economy

How state and local government budgets will be affected by CalPERS’ trimmed investment expectations

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.

By

CalMatters Staff

• December 21, 2016