Pension Reform is BAD for Wall Street, and GOOD for California

By Edward Ring
04/14/2015
“His idea of pension reform is, you sign up for one pension system, we’re going to change it now in mid career, and now you’re going to get something different.” Lou Paulson, President, California Professional Firefighters (ref. CPF Video,  April 1, 2015) The biggest problem with Mr. Paulson’s comment is the double standard he applies. Changing pension...

TAGS: pension reform

California's New, Big, Nonpartisan Political Tent

By Edward Ring
12/02/2014
“In politics, a big tent or catch-all party is a political party seeking to attract people with diverse viewpoints and thus appeal to more of the electorate. The big tent approach is opposed to single-issue litmus tests and ideological rigidity, conversely advocating multiple ideologies and views within a party.” –  Wikipedia, “Big Tent“ Something is...

TAGS: Alliance College-Ready Public Schools, Charter schools, Parent trigger laws, pension reform

The Amazing, Obscure, Complicated and Gigantic Pension Loophole

By Edward Ring
11/18/2014
“The bottom line is that claiming the unfunded liability cost as part of an officer’s compensation is grossly and deliberately misleading.” – LAPPL Board of Directors on 08/07/2014, in their post “Misuse of statistics behind erroneous LA police officer salary claims.” This assertion, one that is widely held among representatives of public employees, lies at the...

TAGS: normal contribution, pension funds, pension reform, PEPRA, Public Employee Pension Reform Act, unfunded contribution

The Misleading Arguments of Those Who Fight Against Pension Reform

By Edward Ring
10/21/2014
Weakening pensions is a choice, not an imperative. The crisis is political, not actuarial. – Susan Greenbaum, guest editorial, Al Jazeera America, October 20, 2014 With this thesis highlighted, Greenbaum, a retired professor of anthropology at the University of South Florida, has just published a guest editorial that provides in one place a useful example...

TAGS: defined benefit pensions, pension fund solvency, pension reform, Social Security

Governor Brown – The Bailout King

By Edward Ring
09/09/2014
“What a salesman,” he said, mockingly. “I guess that’s what you learned … selling that stock that went south.” – California Governor Brown, to challenger Kashkari, during televised debate Sept. 4th, 2014 (ref. SF Gate) If anyone wants to know what the theme of Governor Brown’s attacks on GOP candidate Neel Kashkari is going to...

TAGS: Governor Jerry Brown, normal pension contribution, pension reform, unfunded pension liabilities

The Looming Bipartisan Backlash Against Unionized Government

By Edward Ring
08/26/2014
Whenever discussing politically viable policy proposals to improve the quality of life in California, the imperative is to come up with ideas that strongly appeal to moderate centrists, since that is how most Californians would describe themselves. And there are two compelling issues that offer that appeal: making California’s system of K-12 education the best...

TAGS: Capital Appreciation Bonds, Charter schools, education reform, financial sustainability, Pension Obligation Bonds, pension reform, school choice

Vallejo’s post-bankruptcy plight gets little notice in California’s state capitol

By Steven Greenhut
03/14/2014
When Vallejo, California was facing bankruptcy, pension reformers warned officials there that unless the city takes the opportunity to trim back pensions for current employees that it would soon be back in the fiscal tank. One official there said the city didn’t want to take on the politically powerful California Public Employees’ Retirement System (CalPERS),...

TAGS: California Attorney General Kamala Harris, pension reform, Vallejo bankruptcy

Reforming Public Sector Unions and Public Sector Pensions is NOT “Anti-Worker”

By Edward Ring
05/28/2013
An incoming email responding to last week’s UnionWatch editorial “Los Angeles Police Union Attacks CPPC Study” included the following statement: “While you profess not to dislike public employees, it is clear that you disliking public employee unions.  Interesting—so you might like a public employee or two individually, you just dislike when those individuals organize to...

TAGS: California Teachers Association, pension reform, public sector unions, SB 400