The Cost Of California’s Public Pensions Is Breaking The Bank. Here’s One Reason This Problem Is So Hard To FixApril 11, 2017The fate of reform measures hangs on ballot language written by the state attorney general, usually a Democrat elected with strong union support.
A Tale Of Two SectorsFebruary 9, 2017 | Ali BudnerThe general assumption for retirement security is a job in the public sector. The trade-off means lower pay, however. Meanwhile, the private sector has strayed from pension promises, but is a 401(k) worth it? Listen /Update RequiredTo play audio, update browser or Flash plugin.
Insight With Vicki GonzalezCalifornia Pension Crisis: RichmondFebruary 8, 2017How are cities across California responding to the ballooning cost of pensions in the state? CALmatters Reporter Judy Lin explores a case study in Richmond where priority police and library services are already being cut. Listen / download audio Update RequiredTo play audio, update browser or Flash plugin.
Richmond Makes Cuts To Services As Pension Costs For Public-Sector Workers MountFebruary 6, 2017 | Ashley GrossMany cities across California face rising costs for public employee retirement benefits. And for some, that’s laying bare a stark reality — it’s getting tougher to provide basic services and meet the pension obligations promised years ago. Listen /Update RequiredTo play audio, update browser or Flash plugin.
El Monte's Mayor Wants To End Bonus Pensions Costing Millions But His Hands Are TiedJanuary 26, 2017The mayor of El Monte, a cash-strapped San Gabriel Valley city with many retired employees drawing two pensions, says there’s "no rational justification" for the double pensions.
When City Retirement Pays Better Than The JobJanuary 5, 2017One in four El Monte residents lives in poverty. Yet taxpayers pay a steep price to fund bonus pensions and other perks for city workers.
State GovernmentA Case Study On Pension Reform: San Jose's Grand CompromiseDecember 29, 2016 | Ali BudnerCities and states across the country are facing public employee pension debt that is challenging and, in some cases, crippling their budgets. But some municipalities are experimenting with ways to solve that problem. Listen /Update RequiredTo play audio, update browser or Flash plugin.
How State And Local Government Budgets Will Be Affected By CalPERS' Trimmed Investment ExpectationsDecember 28, 2016Pension costs for state and local government will begin to rise in 2017 after CalPERS officials voted to throttle back the expectations on profits earned from its $299 billion portfolio.
Are Public Pension Benefits Excessive? State Workers Say 'No'November 28, 2016California faces a $240 billion unfunded pension liability. But retired state workers who receive pensions say they are tired of drawing public blame. Listen /Update RequiredTo play audio, update browser or Flash plugin.
Paying For Public Retirees Has Never Cost L.A. Taxpayers More. And That's After Pension ReformNovember 28, 2016Retirement benefits now eat up 20% of city’s general fund revenue. Touted cost controls won't have real impact for decades.
California Pension Crisis: RichmondFebruary 8, 2017How are cities across California responding to the ballooning cost of pensions in the state? CALmatters Reporter Judy Lin explores a case study in Richmond where priority police and library services are already being cut. Listen / download audio Update RequiredTo play audio, update browser or Flash plugin.
Reporter Tells Stories Of California Retirees Struggling With PensionNovember 29, 2016In our ongoing series on California’s Pension Crisis, we hear the stories of some retirees who argue the benefits aren’t excessive. Reporter Sam Harnett guides us through the tales of three California retirees. Listen /Update RequiredTo play audio, update browser or Flash plugin.
CALmatters Explains How Governor Brown's Pension Reform Plan Failed To Move ForwardNovember 3, 2016Gov. Jerry Brown was confident his-12 point plan could reform California’s pension crisis. Five years later, the state’s unfunded liabilities continue to pile up with little change. CALmatter’s Judy Lin explains why the plan failed to progress. Listen / download audio Update RequiredTo play audio, update browser or Flash plugin.
California’s Pension Crisis: What Can We Learn From Illinois? October 13, 2016As California continues to navigate the shaky waters of funding billions in state pensions, Illinois could serve as an example of what to avoid. WBEZ’s Dan Weissmann and Cheryl Eason from CalPERS have different opinions on the comparison. Listen / download audio Update RequiredTo play audio, update browser or Flash plugin.
Exploring The Pension Crisis In CaliforniaSeptember 19, 2016When California lawmakers cut a deal to increase public employee pensions, the state had a very different economic climate. We’ll talk with LA Times reporter Jack Dolan about the pension gap and what he’s learned about it. Listen / download audio Update RequiredTo play audio, update browser or Flash plugin.