First Ever Release of School District Compensation Data Uncovers Widespread Double-Dipping and Inflated Pay
First Ever Release of School District Compensation Data Uncovers Widespread Double-Dipping and Inflated Pay
For Immediate Release July 23, 2014 California Policy Center Media Contact: Jordan Bruneau (916) 258-2396 First Ever Release of School District Compensation Data Uncovers Widespread Double-Dipping and Inflated Pay California Think Tank Releases 2013 Database of School District Salaries, Calls for Legislation to End Double-Dipping TUSTIN – Today, the California Policy Center (CPC) released 2013...
By California Policy Center
Lawsuit Filed Against City of Chula Vista for Refusal to Comply With California Public Records Law
Lawsuit Filed Against City of Chula Vista for Refusal to Comply With California Public Records Law
FOR IMMEDIATE RELEASE Sacramento, California, May 20, 2014 Contact: press@calpolicycenter.org, 916-258-2396 California Think Tank Holds City Accountable for Violating State Law Today, the California Policy Center (CPC) filed a lawsuit in San Diego County Superior Court against the city of Chula Vista for refusing to comply with the California Public Records Act (CPRA). CPC is seeking...
By California Policy Center
New Study Exposes Underfunding in County Retirement Systems
New Study Exposes Underfunding in County Retirement Systems
FOR IMMEDIATE RELEASE Sacramento, California, May 7, 2014 Contact: press@calpolicycenter.org The California Policy Center has just published a study that compiles the total unfunded retirement liabilities for the twenty California Counties that have their own independent pension systems. These independent pension systems are frequently touted as financially sound, but when unfunded healthcare liabilities and outstanding balances...
By California Policy Center
Even Accounting for Environmental Costs, Oil and Gas Development To Have Net Positive Impact on California Economy
Even Accounting for Environmental Costs, Oil and Gas Development To Have Net Positive Impact on California Economy
FOR IMMEDIATE RELEASE Sacramento, California, April 1, 2014 Contact: press@calpolicycenter.org, 916-258-2396 Expansion Could Generate Nearly 300,000 New Jobs Per Year Through 2035, Between $1 and $4.5 Billion in Annual Tax Gains Today, the California Policy Center (CPC) released a new study from a University of Wyoming economist analyzing the realistic economic and environmental impacts that offshore oil drilling...
By California Policy Center
CPC Releases Sobering Study on Sonoma County's Pension Crisis
CPC Releases Sobering Study on Sonoma County's Pension Crisis
FOR IMMEDIATE RELEASE Sacramento, California, January 16, 2014 Contact: press@calpolicycenter.org The California Policy Center has just published an alarming study of Sonoma County’s pension crisis. The study was written by New Sonoma, a volunteer organization of financial experts and citizens concerned about the finances and governance of Sonoma County. The study describes how the County has incurred...
By California Policy Center
CPC Study Finds CalSTRS Contributions Grossly Inadequate
CPC Study Finds CalSTRS Contributions Grossly Inadequate
FOR IMMEDIATE RELEASE Sacramento, California, November 12, 2013 Contact: press@calpolicycenter.org Saddled with a massive debt on what is needed to meet its pension obligations the California State Teachers Retirement System (CalSTRS) added more than $4.0 billion to that debt in 2012 because it chose to underfund its so-called “catch-up” payment. That is the conclusion reached...
By California Policy Center
CPC Study Finds Orange County Pension Plan Contributions Grossly Inadequate
CPC Study Finds Orange County Pension Plan Contributions Grossly Inadequate
FOR IMMEDIATE RELEASE Sacramento, California, September 13, 2013 Contact: press@calpolicycenter.org Saddled with a massive debt on what is needed to meet its pension obligations to County workers and other participants, the Orange County Employee Retirement System (OCERS) added more than $100 million to that debt in 2012 because it chose to underfund its so-called “catch-up”...
By California Policy Center
CPC Study Provides Tools to Estimate Pension Liabilities and Contributions Using Various Assumptions
CPC Study Provides Tools to Estimate Pension Liabilities and Contributions Using Various Assumptions
FOR IMMEDIATE RELEASE Sacramento, California, July 29, 2013 Contact: press@calpolicycenter.org With the recent announcement that Detroit has declared bankruptcy, many wonder how their city, county, school district, or other government organization is doing. To help keep elected officials accountable, the California Policy Center has released a simple spreadsheet and tutorial that estimates the unfunded liabilities and...
By California Policy Center
CPC Study Finds Orange County Again Confronting Bankruptcy Under New Accounting Rules
CPC Study Finds Orange County Again Confronting Bankruptcy Under New Accounting Rules
FOR IMMEDIATE RELEASE Sacramento, California, June 4, 2013 Contact: press@calpolicycenter.org A new study published by the California Policy Center analyzes the impact of GASB and Moody’s new – and final – rules governing financial reporting for pensions. These rules take effect next year. If Orange County had been using the just adopted GASB rulings governing...
By California Policy Center
CPC Study Estimates California's Total State and Local Government Debt Exceeds $1.0 Trillion
CPC Study Estimates California's Total State and Local Government Debt Exceeds $1.0 Trillion
FOR IMMEDIATE RELEASE Sacramento, California, April 30, 2013 Contact: press@calpolicycenter.org A new study published by the California Policy Center estimates the total state and local government debt in California between $848 billion and $1.1 trillion. The study, authored by CPPC researchers Bill Fletcher and Ed Ring, is the result of extensive interviews with state employees...
By California Policy Center
CPC Study Finds Average Total Compensation For Irvine City Worker is $143,691 Per Year
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...
By California Policy Center
CPC Study Estimates Shows New GASB Rules Will Wipe Billions in Net Assets Off Government Balance Sheets
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....
By California Policy Center
CPC Study Shows Unfunded Pension Liability Will Triple To $328 Billion in 2014, Using Moody's Proposed New Criteria
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...
By California Policy Center
CPC Study Documents How Rhode Island Implemented Pension Reform
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,...
By California Policy Center