Tag "Pension Tsunami"
Back to homepage
Auditor: State’s 12 largest cities all at financial risk
According to a new website run by California State Auditor Elaine Howle and her staff, the dozen most populated cities in California all have significant fiscal problems and will be forced into major adjustments in coming years. Eleven of the
Read More
CalSTRS at risk of disaster despite 2014 bailout
Four years after the state Legislature passed a bailout of the California State Teachers’ Retirement System that will nearly double annual direct contributions to the giant pension fund, a newly released internal report raises the prospect that the infusion of
Read More
More than 100 local governments seek tax hikes to meet rising pension bills
Nine months after a League of California Cities report warned that pension costs were increasingly unsustainable, more than 100 local governments in the Golden State are asking voters for tax hikes on Nov. 6 – which Bond Buyer says is nearly
Read More
School lead contamination standards seen as weak, but safer rules would have huge cost
After reports of problems with lead contamination of water at schools around California, Gov. Jerry Brown signed a bill in October of 2017 meant to address the problem. The measure by Assemblywoman Lorena Gonzalez Fletcher, D-San Diego, mandates that every school test
Read More
CalSTRS bailout cost: Pension tsunami laps at CA shores
Gov. Jerry Brown’s relative stinginess in seeking to hold the line on social services spending and in demanding an end to the practice of state education bonds paying for local districts’ construction dumbfounds some Democrats, who cite a healthier economy
Read More
Harsh impact of CalSTRS bailout begins to emerge
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
How rich: CTA parent group struggles with pension costs
The following news nugget almost has an Onion feel to it, it’s such a perfect commentary on the aggressively dishonest Maviglian/union narrative about pension affordability. But it’s legit. The California Teachers Association has spent years depicting complaints about the costs
Read MoreLAO: CalSTRS massively underfunded
March 26, 2013 By Katy Grimes SACRAMENTO — The state’s Legislative Analyst released another stinging report last week showing the California State Teachers’ Retirement System suffers $73 billion of unfunded pension debt. But CalSTRS is using doubtful figures to minimize the
Read MoreField Poll: Cut Pensions
John Seiler: A new Field Poll shows that Californians back unions — but want pensions rolled back. As often is the case, the results are contradictory. It’s immense union power that, over the past 12 years, spiked pensions to unsustainable
Read More