Category Archives: Pensions

The Methuselah Annuity

Public employees are living longer than expected,                            deepening the state pension crisis. By Steven Malanga | The second-longest bull market in American history hasn’t stopped the deterioration of state and local pension funds, whose unfunded debt has almost quadrupled—by their … Continue reading

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Our public employee pension crisis

State and local governments face a $5 trillion unfunded pension liability. Daniel DiSalvo of the Manhattan Institute’s City Journal says paying for this will force cities like Fullerton to put basic services such as fire, police and street repairs on … Continue reading

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Fullerton and cities across Orange County struggle with police and fire pensions

Many Orange County cities are struggling to maintain budgets that keep, or minimally cut services and employees, while trying to keep up with growing law enforcement and fire pension spending, reports Spencer Custodio on the Voice of OC website. In … Continue reading

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CalPERS investment returns are in negative territory

The system has lost 1.9% during the five-month period beginning July 1 By Randy Diamond, Chief Investment Officer | The investment returns for the California Public Employees’ Retirement System (CalPERS) are in the red so far for the 12-month fiscal … Continue reading

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Decision on ‘California rule’ will impact who rules California

By Jon Coupal | On its surface, the case heard last Wednesday by the California Supreme Court in CalFire Local 2881 vs. CalPERS doesn’t seem that important. At issue is the so-called “California Rule,” an obscure legal doctrine relating to … Continue reading

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The public pension bomb

Steven Malanga and Dan DiSalvo of the Manhattan Institute join John Stossel to talk about America’s underfunded government-pension systems—the costs of which are consuming larger portions of state and city tax revenues, squeezing budgets, and limiting vital public services (as … Continue reading

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Tonight: PBS ‘Frontline’ episode looks at the public pension crisis

There will be a PBS Frontline episode tonight on “the role of state governments and Wall Street in driving America’s public pensions into a multi-trillion-dollar hole.” It concentrates on  Kentucky and examines “the broader consequences for teachers, police, firefighters and … Continue reading

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The Federal Reserve tells a big truth

By David Crane | On September 20, the Federal Reserve recognized a truth long covered up by California’s public pension funds. In its latest quarterly Financial Accounts report the Fed revised its measure of unfunded pension liabilities owed by state and local … Continue reading

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The real story behind Sacramento’s push for tax hikes: pension red ink

Editorial, San Diego Union-Tribune | Two bold proposals to increase both taxes and what can be taxed illustrate how California’s elected leaders are failing to be honest with voters about the nature of the budget problems facing the state. The … Continue reading

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Transparent California executive director talks with John and Ken

Robert Fellner, executive director of the pension data website Transparent California, was a guest yesterday on the  John and Ken Show on KFI Radio. They discussed the latest report in which Transparent California documented a nearly 900% increase in promised CalPERS … Continue reading

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