NOT THE TOP OF THE LIST
“Special Nurse” $350,000+
Municipal railway manager:$325,000+
“Administrative services” department head $280,000+
State college workers salaries:
JEFF TEDFORD UC BERKELEY HEAD COACH-INTERCOLG ATHLETICS $2,831,654
PHILIP E LEBOIT UC SAN FRANCISCO PROF OF CLIN___-MEDCOMP-A $1,979,362
TIMOTHY H MCCALMONT UC SAN FRANCISCO PROF OF CLIN___-MEDCOMP-A $1,945,717
RONALD W BUSUTTIL UC LOS ANGELES PROFESSOR-MEDCOMP-A $1,570,897
RICHARD J SHEMIN UC LOS ANGELES PROFESSOR-MEDCOMP-A $1,195,837
KHALIL M TABSH UC LOS ANGELES HS CLIN PROF-MEDCOMP-A $1,048,891
BEN BRAUN UC BERKELEY HEAD COACH-INTERCOLG ATHLETICS $998,569
http://www.sacbee.com/1098/story/1669273.html
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CalPERS Expected To Report Losing Nearly One-Quarter Of Investment Portfolio [$56.8 B Loss]
LATimes | July 20th 2009, Marc Lifsher
FR Posted Tuesday, July 21, 2009 by Steelfish
CalPERS expected to report losing nearly one-quarter of investment portfolio The estimated $56.8-billion drop at the U.S.' largest pension fund, the second annual loss in a row, would have a huge effect on what state and local governments must shell out to support retirees. Reporting from Sacramento -- California's huge government pension fund is expected to report on Tuesday a whopping annual loss of an estimated $56.8 billion, almost a quarter of its investment portfolio.
The loss at the California Public Employees' Retirement System for the fiscal year ended June 30 is the second in a row for the country's largest fund. A year ago, CalPERS reported a $8.5-billion loss, as the severe recession began to take hold. The tremendous drop in value is expected to have a direct effect on the amount of money that the state and about 2,000 local governments and school districts must contribute in coming years to pay for pensions and healthcare for 1.6 million government workers, retirees and their families.
As income from the pension investments fall, the governments would have to make up the difference to meet the state's pension and healthcare obligations. In the fiscal year that ended a year ago, CalPERS' holdings in stocks, private equity, real estate and commodities positions were worth $239.2 billion. They fell to $182.4 billion on June 30, down 23.7%, according to daily postings on the fund's Internet site. CalPERS hit a record-high balance of $247.7 billion on June 30, 2007, and it earned double-digit returns for the five fiscal years from 2002-03 to 2006-07. Without those kinds of flush years, CalPERS could have a difficult time getting the average annual return of 7.75% that its actuaries say it needs to meet obligations to retirees without drastically raising employer contributions. (Excerpt) Read more at latimes.com ...
Just days before Gov. Arnold Schwarzenegger and legislators finalized a water package, including an $11.1 billion bond issue, state Treasurer Bill Lockyer warned them not to do it. California is already deeply in debt, Lockyer warned, has huge budget deficits and can't afford another big bond issue. "The days of blithely heaping more and more debt burden on the general fund are over – at least they should be," Lockyer said.
The earmark-laden bond issue, the package's single most controversial element, raises an interesting question: Just how deeply in debt are Cali state and local governments? The answer: No one knows for certain, since debt is scattered through myriad agencies in many forms, but well over a half-trillion dollars is a fair estimate.
Lockyer's warning pertained to the state's "general obligation debt," which currently stands at $59 billion, and there are an additional $50-plus billion in general obligation bonds that have not yet been sold.
The biggest chunks of debt, however, are the unfunded obligations for pensions and health care of retired public employees. (Excerpt) Read more at sacbee.com ...
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And these profligate pols expect the feds to bail them out with OUR tax dollars.