Politics & Government

The Buzz: CalPERS sees slight rise in October retirements

CalPERS sees slight rise in October retirements

More California state and local government workers in CalPERS applied for retirement this October than a year ago, while the number of first-time pensioners so far this year is virtually identical to the total during the same period last year.

State employee retirements for the month rose 3.5percent to 682. Meanwhile, 1,287 local government, special district and non-teaching school employees put in their pension papers, up 3.3 percent.

So far this year, 8,717 state workers have taken their pensions. Among all CalPERS members, a total of 25,705 have retired this far, just seven fewer than those who headed for the exits between January and October of 2012.

CalPERS counts applications from midmonth to midmonth, so the new data include the last half of September and the first half of October.

Demographers have warned for years that a wave of baby boomers reaching retirement age would trigger a growing number of retirements.

Furloughs, pension insecurity, local government buyouts and budget crises also increased retirements, but with fiscal pressure relatively eased, the pace has slowed for now.

– Jon Ortiz

CAPITOL WATCH

Ann Ravel put an exclamation point on her tenure as head of the California Fair Political Practices Commission this week by announcing a landmark $1million settlement with nonprofits that secretively injected millions of dollars into the 2012 election cycle. Now Ravel is migrating to Washington, where she’ll monitor monetary machinations for the Federal Elections Commission. The U.S. Senate confirmed her appointment in September; she was sworn in Friday. The Democrat is a longtime proponent of election reform.

– Jeremy B. White

  Comments