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

The Amazing, Obscure, Complicated and Gigantic Pension Loophole

By Edward Ring
“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

Orange County Pensions At Risk – Unions Just Call Critics “Extremists”

By Edward Ring
“Just as the overseer of Detroit lied to the public about Detroit’s unfunded pension liability, these extremists are likewise lying to the taxpayers of Orange County, and they’re following his playbook.” –  Jennifer Muir, Communications Director, Orange County Employees Association We’re not lying, Jennifer. We’re not even stretching the truth. What government union spokesperson Muir...

TAGS: OCERS, Orange County Employee Retirement System, Public sector pensions, unfunded contribution, unfunded liability