Monthly Archives: August 2017
Millions of retired state employees have dedicated their lives working for the promised pension funds that come with a lifetime of public service. The Los Angeles Daily News Editorial Board recently wrote a piece on the harm of politicizing state pension funds. The article highlights the negative impacts that ideological investment decisions have on pension funds.
The California legislature passed the Public Divestiture of Thermal Coal Companies Act of 2015 that mandated California Public Employees’ (CalPERS) and California State Teachers’ … Read More
A hidden deficit exists in most state budgets. This large, and almost always, overlooked gap in our budget goes without much criticism from our local elected officials due to a lack of leadership in dealing with the bloating dilemma. The problem? Outstanding pension liabilities. Rather than fixing the problem, politicians prefer a “kick the can down the road” approach to dealing with the unfunded pension liabilities. It is past due that we forget this practice and begin to protect the … Read More
Pensions across the country are habitually underfunded. Recent reports released from the Center for State and Local Government Excellence show that state and local pension plans are only about 74% funded and have unfunded liabilities of about $1.4 trillion. They also found that 20% of pensions are under 60% funded. This is appalling when it is put into context that not only are the pensioners going without, but the extra costs falls on tax payers around the country.
Costs are … Read More