PERS prize: Pete's pension privilege

Article Abstract:

California Governor Pete Wilson appropriated $1.9 billion of Public Employeesretirement System (PERS) funds to stave off the budget crisis. Funds of PERS, the largest state employee trust fund in the U.S. with membership of 850,000 and assets of $67.5 billion, were seized by virtue of AB 702. The bill replacedthe the Investment Dividend Disbursement Account and the Extraordinary DividendDisbursement Account with the Purchasing Power Protection Allowance which will raise retirees' monthly checks by as much as 75% of their original purchasing power.

Management, Evaluation, Pension funds, Wilson, Pete

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California's legislative process

Article Abstract:

Several steps are involved before a bill can become a law in California. First, it is presented in the first house for deliberation and amendments. Once passed, it goes to the second house where it will be deliberated on further. The passed bill without amendments is then submitted to the governor's office for approval while a bill with amendments is sent back to the first house for more discussions. A bill vetoed by the governor can be overridden by a two-thirds majority vote of both houses.

Illustration, Legislation, Legislative process, Bill drafting

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Nine golden rules for budget reform

Article Abstract:

Effective budget reform measures are needed to resolve California's 1991 budget deficit of $14.3 billion. Nine budget management strategies are being prescribed for lawmakers. These strategies include following a well-planned economic programsuch as increased tax rates and the identification of fund sources prior to implementation of particular programs.

Planning, Local budgets

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