Entries by California Policy Center

CPC Study Finds Average Total Compensation For Irvine City Worker is $143,691 Per Year

FOR IMMEDIATE RELEASE Sacramento, California, April 9, 2013 Contact:  press@calpolicycenter.org A new study published by the California Policy Center shows the average full-time employee with the City of Irvine made $143,691 in total compensation during 2012, according to records provided to the CPPC by the city’s own payroll department. The median total compensation, which means […]

CPC Study Estimates Shows New GASB Rules Will Wipe Billions in Net Assets Off Government Balance Sheets

FOR IMMEDIATE RELEASE Sacramento, California, March 19, 2013 Contact:  press@calpolicycenter.org In a new study published by the California Policy Center financial analyst John Dickerson examined Bill Gates’ assertion that only pension “accounting fraud allows governments to pretend their budgets are balanced”. Although Dickerson uses the term “fatally flawed accounting” he concludes Gates is essentially correct. […]

CPC Study Shows Unfunded Pension Liability Will Triple To $328 Billion in 2014, Using Moody's Proposed New Criteria

FOR IMMEDIATE RELEASE Sacramento, California, February 25, 2013 Contact:  press@calpolicycenter.org California’s state and local government pension plan problems are going to get a lot bigger in 2014 under new criteria proposed to be implemented by credit reporting leader Moody’s.  That’s the conclusion of a new study published by the California Policy Center, which concludes that […]

CPC Study Documents How Rhode Island Implemented Pension Reform

FOR IMMEDIATE RELEASE Sacramento, California, January 28, 2013 Contact:  press@calpolicycenter.org The California Policy Center has just published a new study that provides an in-depth chronology of Rhode Island’s pension reform efforts. Despite several incremental pension reforms passed by their state legislature starting in 2005, by 2010 Rhode Island’s state pension plan was only 48% funded, […]

CPC Study Consolidates California's State and Local Government Spending

FOR IMMEDIATE RELEASE Sacramento, California, January 14, 2013 Contact:  press@calpolicycenter.org When Sacramento politicians are dancing in the end zone about their “balanced budget,” how much does that tell us about whether government spending has been brought under control? Not much, according to a new study by the California Policy Center. Using the most recent financial […]

CPC Study Calculates Impact of New Credit Rating Criteria

FOR IMMEDIATE RELEASE Sacramento, California, January 14, 2013 Contact:  press@calpolicycenter.org The California Policy Center has just published a new study that examines the impact of the credit rating criteria being considered by Moody’s Investor Services for state and local governments. Moody’s has proposed discounting pension fund liabilities at a rate of 5.5% instead of the […]