U.S. public pensions need more than investment windfall
(Reuters) - Double-digit annual returns for most U.S. public pension systems over the past two years have done little to shrink the yawning deficits facing many of them after a...
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California pension rate hikes loom after Calpers vote
LOS ANGELES (Reuters) - California and many of its cities will soon be paying more for public pensions after the state's giant retirement system voted on Tuesday to change the...
California pension rate hikes loom after Calpers vote
LOS ANGELES (Reuters) - California and many of its cities will soon be paying more for public pensions after the state's giant retirement system voted on Tuesday to change the...
Another U.S. city mulls bankruptcy due to soaring wages and pensions
DESERT HOT SPRINGS, California (Reuters) - A resort town in California warned on Tuesday that it will run out of money by March due to burdensome salary and pension costs...
Bankrupt San Bernardino in showdown with California pension fund over arrears
RIVERSIDE, California (Reuters) - The bankrupt city of San Bernardino and its largest creditor, the California Public Employees' Retirement System (Calpers), are set for a showdown over the city's $17...
U.S. Treasury, Fed planning for possible default: source
WASHINGTON/NEW YORK (Reuters) - U.S. Treasury and Federal Reserve officials worried about the growing possibility of a catastrophic default are crafting contingency plans to mitigate the economic fallout if Congress...
San Jose and unions make final argument in battle over pension cuts
(Reuters) - California's third largest city, San Jose, and its employee unions presented final court arguments on Tuesday in a case that has major implications for other cash-strapped local authorities...
San Bernardino, California, gets bankruptcy protection
RIVERSIDE, California (Reuters) - A U.S. federal judge on Wednesday granted bankruptcy protection to the California city of San Bernardino, paving the way for a precedent-setting battle between bondholders and...
Judge to rule on San Bernardino bankruptcy, pensions loom
LOS ANGELES (Reuters) - The city of San Bernardino is expected to learn on Wednesday if it is eligible for bankruptcy protection despite the opposition of California's powerful public pension...
Calpers chief investment officer has prostate cancer
LOS ANGELES (Reuters) - The chief investment of Calpers, California's state pension fund, is undergoing treatment for prostate cancer, the fund said on Friday. Joseph Dear, 62, has ceded some...