Site Map Icon
RSS Feed icon
 
 
 
Member Login
Username:

Password:


Not registered yet?
Click Here to sign-up

Forgot Your Login?
Site Search
Site Map
RSS Feeds

What's New at IAFF 522
2013 10-7 Luncheon

Another great year at the Luncheon!  Over 200 active and retired firefighters from all over the Sacramento Region joined to share stories and see old friends.  Below is a few photos, with more in the photo gallery.

CAPF Summary Annual Report

CAPF Participants please click on the attachment below to read the California Association of Professional Firefighters Annual Report.


Download: CAPF Annual Report.pdf
Social Media

Please click on the PowerPoint presentation "Social Media: New Legal Rights & Responsibilities for Firefighters, Unions and Employers" by David E. Mastagni, Partner, Mastagni, Holstedt, Miller & Johnsen.  This presentation was made by Mr. Mastagni at the 2012 Michael D. McNeill Western Regional Fire Fighters Conference in Reno, NV.


Download: Mastagni Social Media Presentation.pdf
CalPERS Responds to LAO Analysis of Pension Reform Initiatives

CalPERS Responds to LAO Analysis of Pension Reform Initiatives


The California Public Employees' Retirement System (CalPERS) today issued the following response to the Legislative Analyst's Office (LAO) analysis of Government Employee Pension Reform Act initiatives:


"The Legislative Analyst's Office raises legitimate and serious concerns about both initiatives and the legality of the proposed changes which would have the most severe impact on existing employees," said Anne Stausboll, CalPERS Chief Executive Officer. "Additionally, the LAO rightly identified the 'large uncertainty about (these measures') possible fiscal effects' and how they 'would apply to the variety of public employees in California …'"


"We will continue to be closely involved in the current legislative process concerning pension reform, and look forward to working on these issues in a productive manner with all Californians," Stausboll said. "As an honest broker of factual information about pensions, CalPERS won't shy away from truthful discussions about pension structure and reform as we work to maintain a sustainable, sound and secure system that protects our members and benefits the State. When it comes to the retirement security of our public servants, all Californians deserve more realistic solutions now and less lawsuits and uncertainty for the next 'several decades.'"


CalPERS is the nation's largest public pension fund with approximately $225 billion in assets, providing retirement benefits to more than 1.6 million State, public school, and local public agency employees, retirees, and their families, and health benefits to more than 1.3 million members. The average CalPERS pension is $2,220 per month. For more information about CalPERS, visit www.calpers.ca.gov.

CalPERS Issues Resonse to Stanford Pension Study

CalPERS Issues Response to Stanford Pension Study

CalPERS today responded to the Stanford Institute for Economic Policy Research (SIEPR) report examining CalPERS, the California State Teachers’ Retirement System (CalSTRS) and the University of California Retirement Plan (UCRP):

“The study is written from a perspective that is intended to exaggerate perceived costs and the instability of pension systems,” said Ann Boynton, Deputy Executive Officer of CalPERS Benefit Programs Policy and Planning. “The report’s findings were based on low discount rates to artificially magnify unfunded liabilities.  It is important to remember that CalPERS invests in a highly diversified portfolio that includes stocks, real estate, and other assets that have historically earned significantly higher returns than the rates assumed in the study.”

The health of the CalPERS fund has improved in the last two fiscal years as noted below:
   •  Over the past 20 years through June 30, 2011, CalPERS has earned an average annual investment return of 8.4 percent in excess of the pension fund’s actuarial rate of return assumption of 7.75 percent needed to pay long-term benefits. The Fund has achieved this rate      by investing in a diversified portfolio with an acceptable level of risk. This historical average includes steep losses experienced in 2008-09.
     •  As of the most recent fiscal year end, the Fund earned a 21.7 rate of return and gained back $60.8 billion from the recent 2009 low of $181 billion. CalPERS assets currently stand at more than $224 billion.
     •  CalPERS has maintained good levels of funding and delivered promised benefits for 80 years.Currently we are near a 75 percent funded status, with an unfunded liability of $85-90 billion.
     •  For every dollar paid in pension benefits over the last 20 years the vast majority came from investments:

Investment earnings                  66 cents
Employer contributions             21 cents
Member contributions               13 cents
 
More information on CalPERS pensions please see attached
:
Guide to CalPERS Pension Facts.

Welcome
You are not currently logged in.
Paused
 
 
Sacramento Area Fire Fighters
Copyright © 2018, All Rights Reserved.
Powered By UnionActive™

284761 hits since Jan 01, 2008
Visit Unions-America.com!

Top of Page image