The public pension overhaul package proposed by Gov. Brown for California reflects a growing trend among states, in which a combination -- or "hybrid" -- of defined benefit and 401(k)-style investing are put together.
From Ed Mendel at CalPensions: "A typical hybrid combines a smaller monthly pension, guaranteed for life, with a more risky and unpredictable 401(k)-style investment plan, whose value can rise and fall with the market."
"For government employers a hybrid reduces the annual costs of pensions and their long-term debt — a national burden said by Pew and other researchers to have soared to $1 trillion or more after massive pension fund losses."
"A brief issued by the National Association of State Retirement Administrators last month said hybrids are “receiving increased attention” as some states look beyond the standard cost-cutting methods: increasing employee contributions and giving new hires lower pensions."
"The NASRA brief lists nine states (Rhode Island acted after publication) that have some version of a hybrid retirement plan: Nebraska, Texas, Georgia, Indiana, Michigan, Ohio, Oregon, Washington and Utah."
Brown's plan also takes a look at so-called "double dippers" -- those who collect pensions from one job while they earn a salary from another. From Lewis Griswold in the Fresno Bee.
"Visalia Police Chief Colleen Mestas, for example, gets an annual pension of about $55,000 based on her 20 years with the Fresno County Sheriff's Department and also collects $140,000 a year, including benefits, from her current job."
"And in a well-publicized move this summer, Fresno Police Chief Jerry Dyer spent a few months working as a retiree, with an annual income (combining his pension and interim contract) estimated at about $300,000 -- well beyond the $169,700 a year he had been earning before he announced his retirement."
"The practice, known as double dipping, would be banned under Brown's plan for all public employees in California. Last month, Dyer, 52, gave up his pension perks to return to his job full-time.The 46-year-old Mestas and other retirees who already are working a second public-sector job likely would be grandfathered in if Brown's plan goes into effect -- a Legislative Analyst's Office concludes that the government likely can't stop workers who already are double dipping."
Hundreds of people have been jailed by mistake in Los Angeles County during the past few years due to identification errors, according to an LA Times investigation.
From Robert Faturechi and Jack Leonard: "The wrongful incarcerations occurred more than 1,480 times in the last five years. They were the result of a variety of factors, including officials' overlooking fingerprint evidence and working off incomplete records."
"The errors are so common that in some years people were jailed because of mistaken identity an average of once a day."
"Many of those wrongly held inside the county's lockups had the same names as criminals or had their identities stolen — problems that took days or weeks for authorities to sort out."
"In one case, a mechanic held for nine days in 1989 on a warrant meant for someone else was detained again 20 years later on the same warrant. He was jailed for more than a month the second time before the error was discovered."
The home of state Community Colleges Chancellor and former state Sen. Jack Scott was engulfed by fire on Christmas Day. The family was out at the time and nobody was hurt.
From Timothy Rutt in the Pasadena Sun: "A Christmas afternoon fire engulfed the home of Jack Scott, California Community Colleges chancellor and former state senator, and his wife Lacreta."
"The Scotts and their family members who lived in the house were returning from a Christmas Day church service, so no one was home at the time. Los Angeles County Fire is not speculating on a cause or offering a damage estimate yet, although damage is extensive."
"Los Angeles County Fire Battalion Chief Bill Reimer said that a call came in at 12:02 PM about a fire at Scott's home at 1085 E. Rubio St. in Altadena, at the corner of Rubio and Maiden Lane."
"Mary Roper, who was visiting family members living next door to the Scotts, said that they noticed black smoke pouring out of the attic and called 911. Her husband Matt Roper said that they noticed the smoke coming out of the house and saw flames through the windows. Roper said that he ran to the front door and pounded on it and screamed to see if anyone was in the house, finally opening the door, which was unlocked."
And finally from our "Christmas Spirit" file comes the tale of the Wal-Mart shopper who allegedly punched an elderly greeter because she didn't want to show a receipt.
"Batavia resident Jacquetta Simmons, 26, was charged with two counts of second-degree assault, State Police Trooper Tracy Patterson said. She faces a second count because the victim, Grace Suozzi, 70, is older than 65."
"Patterson said Simmons is accused of punching and knocking down Suozzi at 11:23 a.m. after the employee asked Simmons to see receipts for items the customer was carrying in store bags. After hitting Suozzi, Simmons ran out of the store, but employees and customers quickly surrounded her until police arrived."
"Suozzi suffered fractures to the left side of her face and significant swelling, Patterson said."
