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CALIFORNIA | LOCAL
March 2, 1995 | DEBRA CANO
Councilman David Sullivan charged last week that city employees have a "Rolls-Royce" benefit package and believes the City Council should review it before negotiations with employee unions start this spring. Sullivan said the city has "good employees," but, "I have a real problem when the employees' benefits so greatly exceed those of the taxpayers who have to pay for them." City employees pay nothing for their benefits.
ARTICLES BY DATE
CALIFORNIA | LOCAL
April 15, 2013 | By David Zahniser, Los Angeles Times
Los Angeles mayoral candidate Wendy Greuel said Monday that she would seek an extra $175 million in savings from the city's budget by using such strategies as cutting the City Council's discretionary funds and changing the investment practices of its employee retirement systems. Appearing with several business leaders, Greuel said her budget plan would generate $60 million in savings per year by reducing the size of public employee health benefits and workers' compensation outlays by 10%. Another $40 million could be found, she said, by modifying the way the city's pension boards invest and cutting the amount they spend on consultants.
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CALIFORNIA | LOCAL
August 29, 2012 | By Evan Halper and Anthony York, Los Angeles Times
SACRAMENTO -- Even by the most ambitious forecasts, the plan Gov. Jerry Brown and fellow Democrats are championing to contain government worker pensions in California could leave state taxpayers awash in debt to public employees. The governor's plan, announced Tuesday, is unlikely to save cities on the brink of bankruptcy. The relief his proposal would provide to the strained state budget is modest. Analysts who study the issue say far more aggressive action - including reduction of benefits for hundreds of thousands of current employees left untouched by Brown's proposal - will be needed to get runaway retirement costs under control.
CALIFORNIA | LOCAL
August 29, 2012 | By Evan Halper and Anthony York, Los Angeles Times
SACRAMENTO -- Even by the most ambitious forecasts, the plan Gov. Jerry Brown and fellow Democrats are championing to contain government worker pensions in California could leave state taxpayers awash in debt to public employees. The governor's plan, announced Tuesday, is unlikely to save cities on the brink of bankruptcy. The relief his proposal would provide to the strained state budget is modest. Analysts who study the issue say far more aggressive action - including reduction of benefits for hundreds of thousands of current employees left untouched by Brown's proposal - will be needed to get runaway retirement costs under control.
BUSINESS
April 2, 1991 | HARRY BERNSTEIN
Sleazy entrepreneurs and some doctors and lawyers are said to be responsible for recent alarming increases in deceptive advertising in the multibillion-dollar workers' compensation system. Assemblyman Burt Margolin (D-L.A.), who spearheaded the legislative fight to reform the system in 1989, opens hearings today in Sacramento to see if what he calls a disgraceful new trend can be stopped.
BUSINESS
June 13, 1995 | VICKI TORRES, TIMES STAFF WRITER
President Clinton on Monday proposed simplifying federal regulations and tax rules to enable more small-businesses owners to enroll themselves and their employees in retirement plans. "You may recognize these ideas, because we got them from you," Clinton told the 1,790 delegates attending a White House Conference on Small Business.
BUSINESS
August 16, 1994
Ultralink Inc., a health care network manager, has been selected by Ameritech, a telecommunications company in the Midwest, as the planning and network manager for Ameritech's health benefits programs. Ultralink, in conjunction with the Kennedy Consulting Group in Chicago, will develop a network of health maintenance organizations to serve Ameritech's employees in five states. Ameritech has 68,000 employees and 50,000 retirees.
CALIFORNIA | LOCAL
September 8, 1999
Jack M. Stewart's Sept. 2 commentary, "Davis Must Rein In Antibusiness Efforts," sounded more like Chicken Little's cry that the sky is falling. What Stewart failed to point out in his antiworkers' compensation benefit increase diatribe was that workers' compensation benefits have not been raised in over 17 years for over half of the permanently partially disabled workers in this state. Since 1993, members of the employer community, including members of Stewart's California Manufacturers' Assn.
BUSINESS
January 25, 1990 | Associated Press
A bankruptcy judge today authorized Federated Department Stores Inc. and Allied Stores Corp. to pay employees millions of dollars in benefits earned before the retailers sought protection from their creditors. U.S. Bankruptcy Judge J. Vincent Aug Jr. approved payments for health and disability insurance, for drug and alcohol abuse counseling, employee educational programs and for a company savings plan.
BUSINESS
June 5, 1990
Lawrence W. Halpin has joined Employee Benefits America in Fountain Valley as president and chief operating officer. He had previously been executive vice president and chief operating officer of the Holden Group, a Los Angeles firm specializing in retirement-income programs. Earlier, he was in charge of Transamerica/Occidental's group life and health insurance operations. Employee Benefits is a subsidiary of Pacific Mutual Life Insurance Corp.
BUSINESS
August 10, 2012 | By Salvador Rodriguez
Google has long been known for taking care of its workforce and a new report shows that care continues after an employee's death. The Mountain View, Calif., company reportedly takes care of its employees' families by giving them half of their salary for 10 years after the death of a worker. As if that wasn't nice enough, the benefit also extends beyond salary. Google also gives their employees' spouses stock benefits. Beyond that, Google makes sure employees' children receive checks for $1,000 a month until they turn 19, or 23 if they are full-time students.
BUSINESS
June 30, 2012 | Chad Terhune, Los Angeles Times
The Supreme Court's endorsement of the federal healthcare law this week could spur more employers across the nation to relinquish their long-standing role as chief healthcare buyer for their workers. This shift has already begun among some big employers shedding their role in providing retiree health benefits, and experts say the court's decision this week could eventually lead companies to pursue a similar approach with current workers. With the Affordable Care Act still on track to offer numerous new benefits, such as guaranteed coverage for all adults starting in 2014, some companies may want to stop providing health coverage and instead give workers money to buy their own. One of the more popular ideas being discussed is to give workers a lump sum, or defined contribution, and then let them use that money to buy their own individual health plan.
CALIFORNIA | LOCAL
June 27, 2012 | By Catherine Saillant and Diana Marcum, Los Angeles Times
STOCKTON - City managers in Southern California on Wednesday were casting a wary eye on Stockton, the latest city to head to bankruptcy court, but said they were working hard to avoid what one public policy analyst predicted would be a string of municipal failures. Facing spiraling labor costs and debt, the Stockton City Council decided late Tuesday night to seek protection under the U.S. Bankruptcy Code and is expected to file with the court as early as Thursday. The council took additional action to reduce costs but still could not fill a $26-million budget deficit.
CALIFORNIA | LOCAL
June 26, 2012 | By Diana Marcum, Los Angeles Times
STOCKTON - This Gold Rush-era port city, an epicenter of California's agricultural exports, will become the nation's largest city to seek protection under the U.S. bankruptcy code after its City Council on Tuesday stopped bond payments, slashed employee health and retirement benefits and adopted a day-to-day survival budget. City Manager Bob Deis likened the process to cutting off an arm to save the body. He is expected to file bankruptcy papers immediately. A Delta wind had scrubbed the Central Valley sky blue as residents gathered hours early for the 5:30 p.m. meeting.
CALIFORNIA | LOCAL
October 24, 2011 | By David Zahniser, Los Angeles Times
Worried about the prospects of a new round of budget cuts during his last two years in office, Los Angeles Mayor Antonio Villaraigosa has grown increasingly bold - some say too aggressive - in his attempts to influence panels that guide the city's huge retirement funds. Two weeks ago, Villaraigosa warned a seven-member board overseeing pensions for civilian employees that a new round of layoffs would "almost certainly" occur if the panel scales back income projections for its $11-billion portfolio.
BUSINESS
March 16, 2011 | By Walter HamiltonLos Angeles Times
American workers are more downbeat than ever about their prospects for retirement, a new study has found. But that also means they are starting to realize how bad their financial condition is. Confirming the findings of other recent research, a survey by the Employee Benefit Research Institute found workers growing increasingly doubtful about their ability to finance comfortable retirements. The results were released Tuesday. The percentage of workers describing themselves as "not at all comfortable" about their retirement outlook jumped to 27% from 22% a year ago. Only 13% are "very confident.
CALIFORNIA | LOCAL
June 27, 2007 | Steve Lopez
Tony Mays, who cuts meat at the Vons in Echo Park, lets me into his apartment. When I don't see the son he told me about on the phone, I figure he must be in the bedroom. But then I realize there is no bedroom. It's a studio apartment, says Mays, 31. His son, 3-year-old Tony Jr., is behind me, nodded out on a bed in a little cubbyhole. The room, in a former hotel near Washington and Main near downtown Los Angeles, is stuffy, and the small fan isn't doing the child much good on a warm evening.
BUSINESS
August 10, 2012 | By Salvador Rodriguez
Google has long been known for taking care of its workforce and a new report shows that care continues after an employee's death. The Mountain View, Calif., company reportedly takes care of its employees' families by giving them half of their salary for 10 years after the death of a worker. As if that wasn't nice enough, the benefit also extends beyond salary. Google also gives their employees' spouses stock benefits. Beyond that, Google makes sure employees' children receive checks for $1,000 a month until they turn 19, or 23 if they are full-time students.
OPINION
January 18, 2011 | Marcia Fritz
Just since Christmas, we've learned that San Francisco's retiree health plan is $4.4 billion in the red, that Santa Clara County's fire chief will collect a hefty government paycheck on top of his $200,000 annual government pension, and that UC's latest tuition increase will go mostly to pension debt even as UC's highest-paid executives are threatening to sue for more benefits. Retirement scandals are as common as weather reports, and voters are fed up. Gov. Jerry Brown's commitment to make the tough decisions required for the long-term health of California presents the perfect opportunity to reform the state's public pension systems, but his proposed budget solutions do not include any significant changes in this crucial area.
BUSINESS
July 12, 2010 | By Bruce Japsen
Aon Corp. has agreed to buy human resources consulting firm Hewitt Associates for $4.9 billion in cash and stock in a move to expand its offerings to global employers navigating the complexities of healthcare reform and employee financial benefits. Chicago-based Aon, an insurance brokerage and consulting giant, will play a large role in uninsured individuals' and small employers' ability to buy health insurance once federal government subsidies are available in the next four years.
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