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Old 05-07-2014, 11:42 PM
 
Location: Folsom
5,128 posts, read 9,844,834 times
Reputation: 3735

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didn't calpers lose a whole ****load of money over the past couple of years? I thought they had several corrupt investor types who were fired. I haven't heard much dirt (or good things) lately in the news about their monies, but I thought they were still digging themselves out of that mess.

Last edited by caligirlz; 05-08-2014 at 12:08 AM..
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Old 05-07-2014, 11:54 PM
 
6,907 posts, read 8,279,210 times
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Quote:
Originally Posted by Majin View Post
But what about the thugs?
Thugs thugs, everyway, you look to the right, thugs, look to the left, thugs,
thugs, thugs everywhere

give me your tired, your poor, your thugs

Gimme some thugs ooh, ooh, gimme some thugs
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Old 05-08-2014, 11:29 AM
 
1,321 posts, read 2,653,036 times
Reputation: 808
Quote:
Originally Posted by caligirlz View Post
didn't calpers lose a whole ****load of money over the past couple of years? I thought they had several corrupt investor types who were fired. I haven't heard much dirt (or good things) lately in the news about their monies, but I thought they were still digging themselves out of that mess.
Hm, not sure about that (though it wouldn't surprise me). Last I heard, they were bragging that they made 18% last year. They also got a big settlement from a company that screwed them over when they sold a bunch mortgage-backed securities. CalSTRS seems to be in bigger trouble. In either case, they, like every other pension program, has to do some serious reckoning as population growth slows down, retiree health benefit costs climb, and people live longer. I certainly wouldn't count on receiving all my promised benefit. Retiree health benefits should probably go away completely, as these are completely unfunded, no one is being forced to retire before Medicare age, and Obamacare at least guarantees eligibility.
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Old 05-11-2014, 03:15 PM
 
Location: Medford, OR
4 posts, read 3,667 times
Reputation: 10
My grandfather retired from the State of CA about ten years ago. He has a top of the line medical insurance plan that is free to him and his dependents, a great pension, and other benefits. CalPERS medical is top notch. As an accountant, I can say hands down his retirement is way better than other people's I have seen. My cousin works for the Federal government and while he has an awesome plan, its definitely not as good as my grandfather's.

Yes people do call it greedy. Benefits that high probably aren't necessary but no one is going to turn it down if it is offered to them.

But I have to admit that I've heard that my grandfather's plan might not be offered anymore. It's very expensive for the State so you would have to see what changes have been made.

Best of luck on your move! Hope it goes great for you

Last edited by elayne665; 05-11-2014 at 03:47 PM..
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Old 05-11-2014, 03:46 PM
 
Location: Medford, OR
4 posts, read 3,667 times
Reputation: 10
If you do decide to move, definitely get in the California State Employees Federal Credit Union. I think the rules are still that you have to be a CA state employee, their spouse, or a decendent of one (or adopted) to open an account. Interest rates on loans are usually good.
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Old 05-12-2014, 08:55 PM
 
8,673 posts, read 17,285,320 times
Reputation: 4685
It's a quarter-trillion dollar mutual fund. Sure, they took a loss during the recession, but many comparable funds took even bigger losses, or were wiped out entirely, thanks to the even bigger corruption that caused the housing bubble and crash in the first place, but any large pile of money is going to get sharks swimming around looking for a bite. In terms of long-term liquidity, CalPERS is pretty stable. Assuming the private sector doesn't get their mitts on it, of course.

Looting the Pension Funds: How Wall Street Robs Public Workers | Politics News | Rolling Stone
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