Listen: A cruel summer

By Editorial Staff
Latest episode of the Radio Free California podcast is out! In this week’s episode of National Review’s Radio Free California Podcast, CPC’s Will Swaim and David Bahnsen discuss the quintessential California summer: water shortages, electricity blackouts, and wildfires. Throw in the return of COVID-19 and the restrictions that come with it and we’re in for...

TAGS: CalPERS, David Bahnsen, Eric Garcetti, Gavin Newsom, National Review, Podcast, Radio Free California, Radio Free California Podcast, Will Swaim

COVID-19 Worsens Fiscal Distress for Lindsay California

By Marc Joffe
The city of Lindsay, in Tulare County, is California’s fourth highest risk city according to the California state auditor. And that was before the COVID-19 pandemic. Its fiscal condition will likely deteriorate further as residents shelter at home, raising the specter of sharp service cuts or even Chapter 9 bankruptcy for the city. The mistakes...

TAGS: CalPERS, Central Valley, Chapter 9 bankruptcy, coronavirus, Marc Joffe, pensions

Crisis shows why El Cerrito needs to heed State Auditor’s warning

By Marc Joffe
The economic crisis arising from the public health crisis we now face shows why the state auditor was correct in calling out El Cerrito and several other California cities for their perilous financial positions during a decade of economic growth. While El Cerrito may have been able to “get away” with uncontrolled spending during good...

TAGS: Bay Area, CalPERS, Chapter 9 bankruptcy, coronavirus, Marc Joffe, pensions

Time for California’s Government Unions to Get Serious About Pension Reform

By Edward Ring
It’s been a long time since California’s pension systems were responsibly managed. Back then, they made conservative investments, paid modest but fair benefits to retirees, and did not place an unreasonable financial burden on taxpayers. But a series of decisions and circumstances over the past thirty years put these pension systems on a collision course...

TAGS: CalPERS, City Journal, Edward Ring, government unions, Gray Davis, pensions, public unions

Public Employee Strike Looms in Santa Clara County

By Edward Ring
With 2020 upon us, it appears likely that two unions representing Santa Clara County employees will be going on strike. Unless agreements can be reached, 3,000 members of the Registered Nurses Professional Association will strike, along with over 11,000 members of the SEIU. When one considers the political leanings of the Santa Clara County Board of Supervisors,...

TAGS: CalPERS, Edward Ring, pensions, public employee unions, seiu

How much will YOUR city pay CalPERS in a down economy?

By Edward Ring
CalPERS still hasn’t issued their actuarial analyses for the period ending 6/30/2018, even though a year ago, the 6/30/2017 analyses were available. Could it be related to the fact that the DJIA index on 10/01/2018 was 26,447 and as of midday 10/01/2019 it sits at 26,599? Did CalPERS have a bad year and what does that mean? What...

TAGS: CalPERS, public employees, Unions

City of Richmond faces pension stress

By Edward Ring
here Pick a city in California. Pick a county in California. Odds are, they could be the topic of this analysis instead of Richmond. But Richmond is the focus of a recent analysis published in Reason entitled “Richmond, California’s Finances Remain Shaky,” and that work provides solid data from which to take a deeper look at what’s truly driving...

TAGS: CalPERS, Edward Ring, firefighters, public safety