Governor ousts CalSTRS appointees who oppose his pension plan

[Kadie]

Governor ousts CalSTRS appointees who oppose his pension plan


By JIM WASSERMAN, Associated Press Writer
Last Updated: February 11, 2005, 12:10:17 AM PST


SACRAMENTO (AP) - Gov. Arnold Schwarzenegger abruptly fired four appointees to the board of the state's teachers retirement system a week after they voted against his plan to privatize California's public pension system.

Last month, Schwarzenegger proposed turning the state's two huge public pension plans into a system more like a 401(k) savings plan, in which workers make defined contributions.

The California State Teachers Retirement System and its board manage $126 billion. The California Public Employees Retirement System, the nation's largest public fund, manages $182 billion.

"The governor concluded that these particular appointees are not best suited to implement his mission for reform," said Schwarzenegger spokeswoman Ashley Snee.

more...
http://www.modbee.com/state_wire/story/9936651p-10776584c.html

[Fridays Child]

1. Shameful.

eom

[Helga Scow Stern]

2. Yuck, yuck, yuck. With a little help from Norquist

So, evil really is going on...


Thursday :: Jan 13, 2005
Schwarzenegger Gets Help From Grover Norquist To Attack PERS


snip--
....
One of the most contentious of these issues will be his demand that all new employees in state or local government after July 1, 2007 no longer receive a defined benefit pension, but rather are left to the tender mercies of a 401 (k). Because of justified concerns over the feeding frenzy of pension enhancements that some public employee unions obtained from former governor Gray Davis, many thought that public entities in the state were facing crippling and rising employee retirement costs.

But instead of proposing legislation or an initiative to reverse those enhancements, Schwarzenegger was apparently convinced by his anti-public employee supporters to go beyond the problem at hand and affect the retirement system of the state’s public employees at all levels, including not just state employees, but also local government employees, teachers, judges, and law enforcement. Yet in targeting the California Public Employees Retirement System (PERS) defined benefit plan, Schwarzenegger and his supporters are going after the best run public retirement system in the country, but one that just happens to be vocal about corporate governance as well.

Schwarzenegger claims that he isn’t targeting anyone or public employees in particular with regards to his proposals, but under the proposed budget state employees would not only see major changes made to PERS, but also be required to pay thousands more each year in retirement and health benefit costs while giving up holidays, and suffering unpaid days off at the governor’s choosing. His claim is further undercut at the news that none other than Grover Norquist will be coming to California to help Schwarzenegger sell his plan to "reform" PERS.


snip--


And perhaps we can send emails to the clueless San Francisco Chronicle reporter Mark Martin who penned Wednesday’s piece with the most benign description of Norquist possible. It’s as if Martin doesn’t really know about Norquist’s mission in life. You can send Martin an email at [e-mail], and clue him in on who Norquist really is.
http://www.theleftcoaster.com/archives/003680.html



Uh oh.

[naniwa]

3. He already replaced the head of CalPERS

Sean Harrigan forced out by State Republicans

One of the reasons they booted Harrigan out was because he was too labor based! Ummm duh, this is labor's pension fund!