Jan 22, 2015
There’s good news and bad news in the City of San Jose’s just-released Comprehensive Annual Financial Report on its two pension funds. The good news is that the investment returns for the Police and Fire Plan (which covers police and fire) and the Federated Plan (which covers everyone else) were 13.5% and 14.2% respectively. That’s well above the 7.125% and…
Oct 6, 2014
Another blow to Mayor Chuck Reed and City Councilman-Mayor-Wanna-Be Sam Liccardo, with the ruling that the city must pay for the plaintiffs’ attorneys fees in the Measure B lawsuit. City worker unions successfully fought the illegal pension reform measure, spending money and time just to prove what Mayor Reed and his allies knew all along : that their idea to…
Mar 7, 2014
On February 25th, the Washington Post decided to wade into San Jose’s pension wars with a major article by Michael K. Fletcher. Alas, the venerable Post apparently did not even do minimal research or fact-checking before putting pen to paper. The result is a disappointing mega-whopper. Tweet
Jan 31, 2014
California Attorney General Kamala Harris is drawing the ire of the San Jose Mayor. The title and summary of Reed’s proposed statewide pension initiative explains to voters how the measure would “eliminate constitutional protections for vested pension and retiree health benefits for current public employees.” Mayor Chuck Reed plans to sue the Attorney General over the wording. Tweet