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In the News...

San Jose city workers, retirees blast proposed pension oversight - City retirees and unionized workers blasted a proposal to restructure the boards overseeing San Jose's employee pension systems in meetings Wednesday and Thursday that reflected deep-seated distrust of top officials, who say independent expertise is needed to protect benefits and reduce costs to taxpayers. View Full Story

Do pension boards need restructuring? - A proposal to give independent financial experts, with no connection to the city, a majority of the seats on two San Jose public employee pension boards was opposed by union leaders at a hearing last week. View Full Story

Sleeping Giant - Admiral Yamamoto could have been speaking for the San Jose City Council when he said: "We have awoken a sleeping giant." Yamamoto’s sleeping giant was the United States, awoken by the bombing of Pearl Harbor. The giant in today's terms is the body of active and retired employees of the City of San Jose, and the battle is over our pension plans. View Full Story

Editorial: Public support needed for pension board reform - Mercury News Editorial - Why should San Jose taxpayers bother going to a meeting about the way San Jose's pension funds are run? Shouldn't that be handled by professionals? Precisely. But it's not. View Full Story

Public pensions draw scrutiny amid Calif. crisis - By JUDY LIN Associated Press Writer - SACRAMENTO, Calif.—California's rapid economic decline has prompted Gov. Arnold Schwarzenegger to propose what once was unthinkable—rolling back generous pensions in a state heavily influenced by public employee unions. View Full Story

San Jose City Council reverses vote on library bid - By Denis C. Theriault - dtheriault@mercurynews.com - The rare redo, giving the bid to Barry Swenson Builder, marks another twist in a dispute that's turned what would normally be a quiet piece of city business into a high-profile battle between the city's labor and business communities. View Full Story

Editorial: Pension reform must be San Jose's priority - Mercury News Editorial - San Jose must not wait for others to take the lead. Generous payments for pensions and retiree health care, which already consumed 11 percent of the $1.07 billion city budget last year, will soar in the next few years. View Full Story

Extra San Jose retirement bonus under scrutiny - by John Woolfolk - Mercury News - Former San Jose workers don't just receive monthly pension checks from their retirement plan. For years in which investment returns exceed the pension funds' benchmarks, retirees receive a "13th check" aimed at easing the bite of inflation for those retired the longest and receiving the smallest pensions. View Full Story

Six-figure pensions for hundreds of retired San Jose cops, firefighters - By John Woolfolk - Mercury News - Veteran San Jose Fire Capt. Randy Sekany hung up his helmet in December at the age of 53. But he didn't leave behind his $100,000-a-year-plus salary. Instead, he joined the ranks of hundreds of former city workers making six-figure sums, with a pension that will pay him $121,510 this year. View Full Story

How San Jose workers do in retirement: a comparison - by John Woolfolk - Mercury New

DeShawn Campbell found guilty of murdering San Jose police officer - By Linda Goldston & Lisa Fernandez - Mercury News - Seven and one-half years after San Jose police officer Jeffrey Fontana was gunned down on a quiet Almaden Valley cul-de-sac, DeShawn Campbell, a small-time crook known for becoming violent when arrested, was convicted Wednesday of the young officer's murder. View Full Story


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