The investment committee of California's largest pension fund took action Tuesday to lower long-term investment projections beginning next summer, a decision requiring larger annual contributions from taxpayers.
The proposal will be considered by the full board of directors of the California Public Employees Retirement Fund, CalPERS, on Wednesday. The proposal would take three years to fully implement, lowering the official rate of return on pension investments from the current 7.5% to 7%.
Ted Eliopoulos, the chief investment officer of CalPERS, told directors that the pension fund needs "additional cash to close the growing gap between benefits going out, and contributions coming in."
Less than an hour after state Atty. Gen. Kamala D. Harris resigned and took the oath of office for the U.S. Senate, Gov. Jerry Brown on Tuesday officially nominated Rep. Xavier Becerra to fill the vacancy and become California’s top law enforcement officer.
The state Assembly set a Jan.10 date for his first confirmation hearing.
The Assembly and Senate now have 90 days to act on confirmation of Becerra, a Democrat from Los Angeles, as state attorney general.
Before friends and family in a packed chamber, Kamala Harris was sworn in as California's newest U.S. senator Tuesday morning. She became the first black woman the Golden State has sent to the Senate and the first Indian American to ever serve in the body.
For a legislator who frequently offers glimpses of her personal life on Twitter, the new year brought something entirely different to share: a wedding.
Assemblywoman Lorena Gonzalez (D-San Diego) was married on Sunday to a former Republican member of the Assembly, Nathan Fletcher. The ceremony, attended only by the couple's close family, was officiated by former Assembly Speaker John A. Pérez.
Gonzalez and Fletcher, who each have children from previous marriages, have been together since 2015.
Sutter Brown, who died on Friday, was last seen in public on election day, accompanying the governor to vote at his Sacramento polling place. In recent days, Sutter’s health took a turn for the worse, the governor’s office said.
Sutter died with the governor and his wife at his side, and was buried Friday afternoon on his family’s Colusa County ranch, according to a statement from the governor’s deputy press secretary, Deborah Hoffman.
“It’s a sad day for all who loved Sutter,” Hoffman said.
Donald Trump’s victory sent shock waves through the environmental community, but fears are particularly heightened among scientists who are employed by the federal government or rely on the data it generates. There are concerns that younger generations may avoid working for U.S. agencies or decide not to focus on climate change because they don’t see a future working in the field.
The election may already have had a chilling effect: Some working in national laboratories declined to speak about the impact the next administration could have on research they consider to be crucial to the fate of the planet.
Ben Santer has responded differently. Although he’s soft-spoken in person, the 61-year-old scientist has become more vocal over the years in hopes of beating back claims that climate change isn’t real.