They need to pay PERS and stand behind their contractual obligations. They also need to reform what they are paying new employees and make that amount more reasonable. Dont forget the city was completely funded for several years and failed to put aside money for PERS even though the employees continued to pay their share.

Less than 2%. The total state budget is over $230 billion.

And the whole $4.5 billion doesn’t have to come from increased state spending.

Probably not worth moving for, considering that odds are about one in five you could move a state with HIGHER effective taxes and/or lower average income.

Less than 2%, the state budget is over $230 billion.

Even at 5%, that would be about $25+ a month for me. IF….IF the whole amount came from increased taxes (rather than increased employee contributions or formula changes.

NOT worth moving.

firehost burns my butt.

They NEVER move Douglas–its all talk.

Douglas: In the past year, CalSTRS said it needs $4.5 billion a year more from the general fund, for 40 years, to stave off insolvency. Brown didn’t included it in his budget, but conceded it would need to be taken care of soon. Meanwhile, interest keeps compounding. That’s just one fund, and it’s not “a small fraction of the state budget,” but about 5 percent of it.

http://www.sacbee.com/2012/12/24/5073796/legislature-cant-put-off-reckoning.html

John— hey man, careful, there’s a beverage here, man.

Ted: Provide a reference and I’ll check it.