CalPERS is getting a new chief investment officer, but don't expect any immediate wholesale changes in how the big pension fund invests its money. Joseph Dear, the newly appointed chief investment officer at CalPERS, says this isn't the time to panic. (SacBee registration may be required.)
The man who spearheaded the 2005 attacks on public employee pensions is at it again. Former Assemblyman Keith Richman says he's going to use the Internet to gather signatures for a proposal that would increase the retirement age and cap pensions at a level nearly 1/3 lower than current law.
A plan to close California's cavernous $41 billion budget hole was approved early Thursday morning by the California Senate, after one lone holdout switched his vote from "no" to "yes. The budget plan mixes $15 billion in spending cuts with $13 billion in temporary tax hikes and a hefty round of borrowing to close the hole. Sen. Abel Maldonado (R-Santa Maria) made the switch after being promised a series of proposed constitutional amendments, including one that could aid his chances for statewide office.
In one of the lowest-turnout elections in California history, voters vented their frustration with the state's political leadership by rejecting Propositions 1A through 1E. In response to the election results, CPF President Lou Paulson said the election results complicate the task of fixing California's broken budget system.
The California Emergency Medical Services Authority today has released a Swine Flu Training for all EMS providers. The free online program provides information, guidance and protocols in the response to Swine Influenza (H1N1) and Influenza-like Illness (ILI).