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(Max Whittaker / Getty Images)

California’s largest public-employee pension fund saw an upturn in profits generated from its investments in the last year, officials reported Thursday, a record that offered some improvement to its long-term fiscal stability.

Leaders of the California Public Employees’ Retirement System, CalPERS, reported preliminary numbers showing an 8.6% net return on investments for the 12-month period that ended in June. That is a higher rate of return than the pension fund expects to earn over the coming decades, but not necessarily reflective of a change in its long-term challenges.

“While it’s important to note the portfolio’s performance at the 12-month mark, I can’t emphasize enough that we are long-term investors,” Ted Eliopoulos, CalPERS chief investment officer, said in a written statement. “We will pay pensions for decades, so we invest for a performance that will sustain the Fund for decades.”

California state controller Betty Yee hurt in car crash

(Max Whittaker / Getty Images)

California’s largest public-employee pension fund saw an upturn in profits generated from its investments in the last year, officials reported Thursday, a record that offered some improvement to its long-term fiscal stability.

Leaders of the California Public Employees’ Retirement System, CalPERS, reported preliminary numbers showing an 8.6% net return on investments for the 12-month period that ended in June. That is a higher rate of return than the pension fund expects to earn over the coming decades, but not necessarily reflective of a change in its long-term challenges.

“While it’s important to note the portfolio’s performance at the 12-month mark, I can’t emphasize enough that we are long-term investors,” Ted Eliopoulos, CalPERS chief investment officer, said in a written statement. “We will pay pensions for decades, so we invest for a performance that will sustain the Fund for decades.”

L.A. Mayor Eric Garcetti defers to LAPD in response to Times lawsuit seeking security costs

(Max Whittaker / Getty Images)

California’s largest public-employee pension fund saw an upturn in profits generated from its investments in the last year, officials reported Thursday, a record that offered some improvement to its long-term fiscal stability.

Leaders of the California Public Employees’ Retirement System, CalPERS, reported preliminary numbers showing an 8.6% net return on investments for the 12-month period that ended in June. That is a higher rate of return than the pension fund expects to earn over the coming decades, but not necessarily reflective of a change in its long-term challenges.

“While it’s important to note the portfolio’s performance at the 12-month mark, I can’t emphasize enough that we are long-term investors,” Ted Eliopoulos, CalPERS chief investment officer, said in a written statement. “We will pay pensions for decades, so we invest for a performance that will sustain the Fund for decades.”

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Neil Gorsuch was President Trump's first Supreme Court appointee.

Neil Gorsuch was President Trump’s first Supreme Court appointee. (J. Scott Applewhite / Associated Press)

President Trump said he will soon pick a nominee to replace retiring Supreme Court Justice Anthony Kennedy from the same list of people he announced during his election campaign, and from which he chose his first justice, Neil Gorsuch.

“Hopefully we will pick someone who is just as outstanding” as Gorsuch, Trump told reporters ahead of a meeting with the president of Portugal.

The list of 25 people — now 24 with Gorsuch’s selection — names decidedly conservative jurists and one Republican senator, Mike Lee of Utah. In releasing it during the 2016 campaign, Trump sought to appeal to religious conservatives wary of a him, given his record of three marriages, his past Democratic affiliation and his formerly pro-abortion rights views. 

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Education Secretary Betsy DeVos

Education Secretary Betsy DeVos (Erik Lesser / European Pressphoto Agency)

In April, California’s top education officials breathed a sigh of relief. After months of debate and back-and-forth with Betsy DeVos’ staff, they had finalized a plan to satisfy a major education law that aims to make sure all students get a decent education.

The state focused on aligning its plan to fulfill the requirements of the federal Every Student Succeeds Act with California’s Local Control Funding Formula, which gives extra money to districts to help students who come from low-income families, are in the foster system or are English learners.

But this week, DeVos’ team said not so fast. 

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California politics news feed

Sen. Josh Newman (D-Fullerton), shown last year, spoke angrily Monday about being recalled on June 5.

Sen. Josh Newman (D-Fullerton), shown last year, spoke angrily Monday about being recalled on June 5. (Rich Pedroncelli / Associated Press)

Just days after voters acted to recall him from office, state Sen. Josh Newman (D-Fullerton) on Monday condemned Republican members of the Senate in an angry floor speech for what he said was their failure to stand up against a deceptive campaign by GOP operatives to oust him from office.

Newman said the campaign got voters to sign the recall petitions by saying it would repeal a gas-tax increase and they unfairly blamed him for the tax, even though many others, including a Republican senator, voted for the measure.

“It saddens me colleagues, Republican colleagues, that despite all your nice sotto voce words, not a single one of you had the integrity, the decency or the courage  to say this is wrong… this is an abuse of the recall process,” Newman said in a speech toward the close of the day’s session.