City Contributions to CalPERS Continue to Rise

By Marc Joffe
Last year, CPC published a study on California City Pension Burdens. Most of the data for that study came from plan-specific actuarial valuation reports published by CalPERS. These reports show how much local government employers must pay CalPERS in the coming fiscal year and projects contributions for several years into the future. At the end...

TAGS: CalPERS, defined benefit pension

When Union Bosses Become Employers

By Larry Sand
Sanctimonious labor leaders treat their employees very differently than their members. While tales of union hypocrisy are as common as instances of Donald Trump sticking his Ferragamos in his mouth, there is one facet of union two-facedness that is under-reported – the role of union as employer. As mentioned in my post a couple of...

TAGS: 401K, defined benefit pension, Evan Grossman, Jerry Jordan, Larry Sand, National Education Association, pension tsunami, Philadelphia Federation of Teachers, seniority, teachers union, tenure

Pension Reformers are not "The Enemy" of Public Safety

By Edward Ring
“You will find that powerful financial and investment institutions are the ones promoting the attacks on your pensions. Firms like Berkshire-Hathaway and the Koch brothers are backing political candidates and causes all over the country in the hopes of making this issue relevant and in the mainstream media. Why? Because if they can crack your...

TAGS: defined benefit pension, government unions, pension reform, public sector union reform, unfunded liability

Estimating America's Total Unfunded State and Local Government Pension Liability

By Edward Ring
Summary:  The total state and local government pensions in the United States at the end of 2013 had an estimated $3.6 trillion in assets. They were 74% funded, with liabilities totaling an estimated $4.86 trillion, and an unfunded liability of $1.26 trillion. These funds, in aggregate, project annual returns of 7.75%. If you apply a...

TAGS: defined benefit pension, pension fund solvency, unfunded pension liability