Just How Much Money Might CalPERS Have to Collect in an Economic Downturn?

By Edward Ring
When evaluating the financial challenges facing California’s state and local public employee pension funds, a compelling question to consider is when, exactly when, will these funds financially collapse? That is, of course, an impossible question to answer. CalPERS, for example, manages hundreds of billions in assets, which means that long before it literally runs out...

TAGS: pension fund contributions, pension fund insolvency, Public sector pensions

A King’s Ransom for ‘Public Servants’?

By Jon Coupal
Editor’s note: During 2015 the average pay and benefits for a full time state worker in California was $104,867. County workers averaged $108,856, and city workers averaged $121,430. These averages do NOT include members of public safety. The 2015 average pay and benefits for full time state highway patrol and corrections employees was $136,828, for county...

TAGS: pension fund contributions, public sector compensation, total compensation

California's Pension Contribution Shortfall At Least $15 Billion per Year

By Edward Ring
“Pension-change advocates failed to find funding for a measure during the depths of the 2008 recession and the havoc it wreaked on government budgets, so they won’t pass (a measure) when the economy is doing well.” –  Steve Maviglio, political consultant and union coalition spokesperson, Sacramento Bee, January 18, 2016 It’s hard to argue with...

TAGS: CalPERS, CalSTRS, normal contribution, pension fund contributions, pension fund solvency, unfunded contribution