Pension Reform

Back to homepage

Retirement will be painful for most

In an excellent column in the U-T San Diego, Dan McSwain paints a grim retirement picture for almost everybody: For most Americans, it’s tempting to live in denial or outright fantasyland when it comes to paying for retirement. That’s because

Read More

Harsh impact of CalSTRS bailout begins to emerge 4

The deal struck in spring 2014 to bail out the underfunded California State Teachers’ Retirement System will lead school districts, the state and teachers to increase their annual contributions to CalSTRS from $5.9 billion in 2014 to at least $10.9

Read More

Pension reformer Chuck Reed will fight on 28

San Jose is in the center of the world’s economic pulse, Silicon Valley. By all rights, its city treasury ought to be overflowing with digital wealth. Instead it has flirted with bankruptcy because of its burgeoning pension problem — a problem

Read More

Coal ban would boost tax cost of pensions

California public pensions already have a big problem with adequate funding. The nonpartisan state Legislative Analyst pegs the pensions’ unfunded liabilities at $340 billion. It should be obvious what the investment strategy should be for the California Public Employees System,

Read More

CalPERS retirees soon to surpass workers 30

Outgoing San Jose Mayor Chuck Reed, the Democratic pension reformer, has a great joke. He says that, soon, his city will have a single employee; whose only job will be to mail pension checks to retirees. CalPERS is gettin’ there.

Read More

Upbeat LAO report lacks key focus: CalSTRS bailout cost 1

The Legislative Analyst’s Office released an analysis of state revenue this week that suggests the state won’t suffer when temporary tax hikes expire. This is from AP: SACRAMENTO — A steadily improving economy will buffer California’s budget from a drop

Read More

2014’s low turnout eases path for 2016 tenure, pension ballot measures

Rick Claussen, Ned Wigglesworth, and Aaron McLear of the Redwood Pacific consulting group have released an interesting memo that is good news for those considering taking on public employee unions in 2016 with ballot measures putting limits on government pensions

Read More

Modest-seeming CalSTRS pension estimate lacks key context 10

The California Teachers Association and the California Federation of Teachers do a good job of promoting the narrative that state teacher pensions are very modest at best. It’s true that there aren’t the same type of outrageous stories that we see in

Read More

BK judge slams taxpayers on Stockton pensions

In boon to public pensioners and a shock to taxpayers throughout California, federal Judge Christopher M. Klein approved a bankruptcy plan to put Stockton city retirees at the top of the heap. That means taxpayers are at the bottom. Also stiffed

Read More

CalPERS’ $100K club increases 900% 74

Let the good times roll! for those getting pensions from the California Public Employees Retirement System, anyway. The Register reported: Back in 2005, some 1,841 retirees pulled down more than $100,000 a year in pension checks from the California Public

Read More