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Posts Tagged ‘CFFR’

California Pension Payouts Increase 73% in 2 Years

Posted by Larry Doyle on June 21st, 2012 8:54 AM |

How does one define a “racket?”

Well, in a takeoff of a similar question regarding pornography, I am not sure exactly how I might define a “racket” but I believe I would know one when I see it.

So, where should we look to see a racket at work? California and specifically the public pension system in the Golden State. A few weeks back I highlighted what I believe will be “civil wars” over public pension reforms in our country.

A primary battleground on this front will be the hard left-leaning people’s republic on our left coast. Is there any real surprise that California finds itself in such a fiscal mess? Not really.

How bad is the situation in California? (more…)

“Fix Pensions and We Won’t Have to Fire Teachers”

Posted by Larry Doyle on May 9th, 2011 9:36 AM |

You do not need to read Sense on Cents to know that many of the states in our union are drowning amidst a sea of future pension obligations. While state treasurers and legislators are all too often inclined to play financial games and utilize smoke and mirrors to disguise the burden of these pension obligations, the absolute figures are so astronomical and will require a meaningful restructuring. Might that happen? Would public employees actually swallow a very real revaluation of their pension benefits?

Marcia Fritz, the head of the California Foundation for Fiscal Responsibility, is calling for her state to do just that. Ms. Fritz recently released a statement entitled, Fix Pensions and We Won’t Have to Fire Teachers,

California taxpayers would save billions of dollars that would flow to public schools, community colleges and universities if state and local public employees retired with benefits comparable to those provided to employees of Silicon Valley’s top companies. Teachers’ jobs would be saved and school programs spared. (more…)






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