• Home
• Blog
• Public Employee Pensions
• Corporate Pensions
• Social Security
• International
• Press Room
• About Us

Welcome

The oncoming wave of public pension debt is even bigger than it seems. The purpose of this website is to provide an overview of the multiple pension crises that are about to drown America's taxpayers. Our primary focus is on California, but we also track other states, corporate pensions, social security and international trends. Now completing its tenth year, PensionTsunami.com was founded by and is edited by Jack Dean. (Contact: JackDean(at)PensionTsunami.com or 916-644-0688 or @PensionTsunami)

Latest Newsclips     last updated March 6 6:30am PST

Each day's headline summary is e-mailed to subscribers.

March 6, 2015

• Needing to Up the Ante on Pensions in Costa Mesa (editorial - Orange County Register)
• DATABASE: Pension Info on the City of Costa Mesa's Retired Public Employees (Transparent California)
• Public Pensions, Once Thought Bulletproof, Are Taking Hits Across the Country, Report Says (Robert McClendon / Times-Picayune)
• Feds Should Back Off, Let California Trim Pension Costs (editorial - Pensions & Investments)
• Federal Judge’s Ruling Could Benefit Sacramento Regional Transit District, Other Transit Agencies (Denny Walsh / Sacramento Bee)
• Public Pensions Not Expected to Take a Big Hit From New Data on Longer Lifespans (Michael Rapoport / Wall Street Journal)
• TO RECEIVE A HEADLINE SUMMARY IN YOUR EMAIL WEEKDAYS, CLICK HERE
• Bill Would Switch Federal Pensions to 'High Five' System (Andy Medici / Federal Times)
• Public Pension Quicktakes: 6 March 2015 (blog - Mary Pat Campbell / STUMP)
• Pension Tension: State Pension Lawsuit Heads to Illinois Supreme Court (Patrick Yeagle / Illinois Times)
• Stay Up to Speed on Illinois' Pension Crisis With This Three-Point Refresher (Matthew Dietrich / Huffington Post)
• Another Illinois Town Hikes Taxes Amid Skyrocketing Pension Costs (Benjamin VanMetre / Illinois Policy)
• EDITORIAL CARTOON: Former Illinois Governor Pat Quinn's Pension Payout (Illinois Policy)
• Rhode Island Supreme Court Says No Delay, Pension Overhaul Trial Can Go Forward in April (Mark Reynolds
 / Providence Journal)
• Rhode Island Supreme Court Says Pension Trial Can Start April 20 (Shaun Towne / WPRI-TV)
• The Pension Case: The State of Illinois' Reply Brief (Kirk Jenkins / JD Supra)
• New Jersey Reform Plan Won’t Stop Double-Dips or $100,000 Pensions (Mark Lagerkvist / Watchdog.org)
• READ THE REPORT: 'A Roadmap to Resolution' (pdf - New Jersey Pension and Health Benefit Study Commission)
• New Jersey Governor Christie Warns Pension Fund Ruling Could Force Tax Hike (New Jersey 101.5 FM)
• CF5 – Ballot Question Hustle (blog - John Bury / Burypensions)
• Bill Would Prevent Boost to Idaho Lawmakers' Pensions (Ryan Clark / Idaho Statesman)
• Pennsylvania Governor Calls for $3 Billion Bond for Pensions (Romy Varghese / Bloomberg)
• Pennsylvania Governor: Fire Managers to Close Pension Gap (Leanna Orr / aiCIO)
• UNSUSTAINABLE: Chicago Has More Retired Cops Collecting Pensions Than Active Cops on the Streets (Nancy Mathieson / WirePoints Illinois)
• UNSUSTAINABLE: New York City Has More Retired Cops Collecting Pensions Than Active Cops on the Streets (op-ed - Nicole Gelinas / New York Post)
• SEARCHABLE DATABASE of California Public Employees' Pay and Pensions (TransparentCalifornia.com)

March 5, 2015

• Los Angeles Unified School District's Offer Is Worth $122,938 Per Year – Will the Teachers Go on Strike Anyway? (Ed Ring / UnionWatch)
• Former California State Senator Sued Over Loan From CalPERS Bribery Figure (Dale Kasler / Sacramento Bee)
• Reedley, California Will Enter New Retiree Benefit Program (Jon Earnest / The Exponent)
• Chicago Watch: I Warned Rahm, You Know (blog - Mary Pat Campbell / STUMP)

March 4, 2015

• Worst-Case Scenarios for CalSTRS and CalPERS (Wayne Lusvardi / CalWatchdog)
• Chicago's Only Possible Salvation: Bankruptcy (blog - Mike Shedlock / Mish's Trends)
• Largest Pension Funds Troubled by Longer Lifespans (John Manganaro / PlanSponsor)
• Pension Funds Should Stay Engaged and Not Divest (op-ed - Christianna Wood / Pensions & Investments)
• Pension Funds Trail Individuals in Embracing Index Funds (Randall Smith / New York Times)
• PENSION PULSE: Top Funds' Activity in Q4 2014 (blog - Leo Kolivakis)

March 3, 2015

• Villa Park to Stay With CalPERS; Price Tag for Leaving Is Too High (Rebecca Kheel / Orange County Register)
• Former California Gov. Schwarzenegger Wants to Know if Warren Buffett Can Think of a Solution for Underfunded Pensions (Squawk Box / CNBC)
• CF5 – New Jersey Ballot Question Hustle (blog - John Bury / Burypensions)
• New Jersey Gov. Chris Christie's Biggest Problem: Pensions (Elizabeth MacDonald / Fox Business)
• Former Illinois Gov. Quinn Receiving $11,396 Monthly Pension (WUIS-FM)
• Illinois Pension Plans Are Only 39% Funded; Taxpayers Are on the Hook (Mike Shedlock / UnionWatch)
• No More Delays in Addressing Pennsylvania's Public Pension Crisis (editorial - Observer-Reporter)
• Jacksonville, Florida Moves a Step Closer to Solving Its $1.7 Billion Pension Problem (video - WJXT-TV)
• Retirees from Massachusetts' State Colleges Drive Up Six-Figure Pensions (Erin Smith / Boston Herald)
• Honolulu's Proposed City Budget Tackles $1.7 in Unfunded Pension and Healthcare Liabilities (Andrew Pereira / KITV)
• 80% Funding Hall of Shame: February 2015 Round-Up (blog - Mary Pat Campbell / STUMP)
• Bill Gross: Too Much Debt, Too Many Zombie Corporations, Low Interest Rates Destroy Pension System (blog - Mike Shedlock / Mish's Trends)
• Panel Proposes Scaling Back US Military Pensions by 20% (Gerri Willis / Fox Business)
• Who Will Take Care of All the Old People? (Megan McArdle / Bloomberg)
• PENSION PULSE: Will Longevity Risk Doom Pensions? (blog - Leo Kolivakis)

March 2, 2015

• Golden Pensions Benefit Former Marin County Execs (Nels Johnson / Marin Independent Journal)
• Oakland Mayor Libby Schaaf Faces Tough Choices Fixing the Fiscal Mess Jean Quan Left Behind (column - Daniel Borenstein / Contra Costa Times)
• Stockton Bankruptcy’s Unsettled Pension Legacy (blog - Ed Mendel / Calpensions)
• Public Pension Ills Persist in California's Inland Empire (editorial - Press-Enterprise )
• Detroit's Retired Public Employees to See Pension Cuts Starting Today (Susan Tompor / Detroit Free Press)
• Chicago's Fiscal Freefall: Moody's Cuts Chicago Credit Rating to Two Steps Above Junk (blog - Mike Shedlock / Mish's Trends)
• Lessons From Illinois: Pension Obligation Bonds Only Delay the Day of Reckoning (Benjamin VanMetre / Illinois Policy)
• Jesus García Cannot Save Chicago: Mayoral Hopeful Offers No Fix for City’s Fiscal Ills (Edward Luce / Financial Times)
• Federal Court Declines to Rule on Whether Pension Clause Protects Chicago Health Benefits (Jacob Huebert / Illinois Policy)
• CF4: COLAs A Footnote (blog - John Bury / Burypensions)
• Scott Walker: The Public Pensions Connection (blog - Mary Pat Campbell / STUMP)
• PENSION PULSE: Private Equity Discovers Warren Buffett? (blog - Leo Kolivakis)

February 27, 2015

• Pacific Grove, California's Pension Woes Are Hardly Unique (editorial - Monterey Herald)
• Costa Mesa Doesn't Have a Pension Problem, Says Public Employee Union Spokesperson (Bradley Zint / Daily Pilot)
• Enron All Over Again: Why Wall Street’s Pension Investments Are a Disaster in the Making (David Sirota / Salon)
• New Warning From S&P for Chicago: Read It Carefully (Mark Glennon / WirePoints)
• Chicago's Fight for the Soul of the Democratic Party (editorial - Bloomberg)
• The Estimated Value of Health Benefits Promised to New York City's Public Employees Is Roughly $90 Billion (op-ed - E.J. McMahon / Daily News)
• Pension Reform Can No Longer Be Postponed in Houston (op-ed - Jim Noteware / Houston Busines Journal)
• Massachsetts State Rep Mounting Protest Against Pension Request by Former State Administrator (Jim Hand / Sun Chronicle)
• Gov. Christie Declares War on Public Pensions and Health Benefits and Then Skips Town (Alfred P. Doblin / The Record)
• CF3: Why a Ballot Question on New Jersey Pension Reform? (blog - John Bury / Burypensions)
• Pension Quick Takes: Lawsuit (and Scott Walker Teaser) Edition (blog - Mary Pat Campbell / STUMP)
• PENSION PULSE: Caisse Gains 12% in 2014 (blog - Leo Kolivakis)

February 26, 2015

• Cracks Starting to Appear in Public Pensions’ Armor (Mary Williams Walsh / New York Times)
• CalsSTRS Bailout Cost: Pension Tsunami Laps at California's Shores (Chris Reed / CalWatchdog)
• Public Pensions Watch: Lawsuits, Lawsuits Everywhere... (blog - Mary Pat Campbell / STUMP)
• Judge's Decision on New Jersey Public Employees' Pension Rights (blog - John Bury / Burypensions)
• New Jersey’s Pension Time Bomb (video - Steve Malanga / Wall Street Journal)
• CF2: New Jersey Education Association on Board? (blog - John Bury / Burypensions)
• Seventy Percent of the New York City Fire Department’s Females Are Retiring on Disability Pensions (Susan Edelman / New York Post)
• In an Ideal World, Puerto Rico Would Be Bankrupt (editorial - Bloomberg)
• PENSION PULSE: Overhauling New Jersey's Pensions? (blog - Leo Kolivakis)

February 25, 2015

• The Glass Jaw of Pension Funds Is Asset Bubbles (Ed Ring / UnionWatch)
• A New Chapter for Stockton: Post-Bankruptcy (Roger Phillips / Stockton Record)
• Pension Raises and Civic Debt (editorial - Marin Independent Journal)
• California Bay Area Workers and Unions Finance the Fracking Boom Via Their Pension Funds (Darwin BondGraham / East Bay Express)
• Texas vs. California Update (blog - Lawrence Person / BattleSwarm)
• California Public Worker Contracts Need Daylight (letter - Jody Morales / Marin Independent Journal)
• Want 'Better' Public Employees? End Public Employment! (Richard Rider / FlashReport)
• Gov. Christie Plays Offense on New Jersey Pension Reforms (Mark Lagerkvist / Watchdog.org)
• Gov. Chris Christie Panel Proposes Overhaul of New Jersey’s Pension System (Josh Dawsey / Wall Street Journal) $$
• CF1 – Christie Freeze: The Obvious Critics (blog - John Bury / Burypensions)
• Convicted Georgia Police Chief to Collect Pension in Prison (Russ Bynum / Associated Press)
• Outside Legal Tab Puts Arizona Pension System $1 Million Over Budget (Craig Harris / The Republic)
• PENSION PULSE: Is Farmland a Good Fit For Pensions? (blog - Leo Kolivakis)

February 24, 2015

• BREAKING: Hard Freeze Proposed for New Jersey Public Employee Pensions (blog - John Bury / Burypensions)
• NEW STUDY: California City Pension Burdens (Marc Joffe / California Policy Center)
• 14 Top-Paid Cal State Bosses (Joel Hoffmann / U-T San Diego)
• CalPERS Has Paid Lawyers $7 Million in Vallejo, Stockton and San Bernardino Bankruptcies (blog - Ed Mendel / Calpensions)
• CalPERS, Activist Shareholder Battle Whole Foods (blog - Ed Mendel / Calpensions)
• Monterey, California's Fire Department Overtime Hit $1.8 Million in 2014 (Phillip Molnar / Monterey Herald)
• New Jersey Court Slaps Down Christie Plan on Pension Contributions (Jonathan Stempel, Luciana Lopez, Karen Pierog, Edward Krudy / Reuters)
• Court Rules Against New Jersey Gov. Christie’s Cuts to State Pension Contributions (Mark Lagerkvist / Watchdog.org)
• New Jersey Court Rules Christie Must Pay (blog - John Bury / Burypensions)
• Convicted Politicians and Their Pensions (blog - Mary Pat Campbell / STUMP)
• Beggar Thy Taxpayer: Currency Wars, QE Strain Life Insurers and Pension Plans; Negative Returns With 4-7% Promises (Mike Shedlock / Mish's Trends)
• Updated Mortality Tables Increased Corporate Pension Liabilities by $100 Billion (PlanSponsor)
• Averting the Disability-Insurance Meltdown (op-ed - Andrew G. Biggs / Wall Street Journal) $$
• PENSION PULSE: And The Oscar Goes To? (blog - Leo Kolivakis)

February 23, 2015

• One Out of Every Four Dollars Taken From Illinois Taxpayers Goes to Pensions, Says Governor (Chuck Goudie / ABC7 Chicago)
• LIST: State of Illinois' Top 200 Government Pensions (pdf - ABC7 Chicago)
• What Happens When Government Treasuries Are Siphoned Off to Feed the Personal Greed of the People in Government (editorial - Lompoc Record)
• Pension Liabilities Push New Jersey's Debt to $152 Billion (blog - John Bury / Burypensions)
• Public Pension Quick Takes: A New Feature (blog - Mary Pat Campbell / STUMP)
• 2013 Survey of Public Pensions: State- and Locally-Administered Defined Benefit Data (United States Census Bureau)
• New York City's Public Advocate Wants Panel to Study New Private Sector Pension (Michael Howard Saul / Wall Street Journal)
• State-Run Private Retirement Programs Get Help From President (Hazel Bradford / Pensions & Investments)
• PENSION PULSE: Are Chicago and Tampa the Next Detroit? (blog - Leo Kolivakis)

February 20, 2015

• Showdown in Stockton: CalPERS Needs Dentist and Everyone Else Needs to Talk (Karol Denniston / Squire Patton Boggs)
• Screwed by Seniors: The People Expected to Pay for Social Security and Medicare Can't Afford It (Veronique de Rugy / Reason Magazine)
• Pension Costs Force 191-Year-Old Massachusetts Silversmith Into Bankruptcy (Charles Winokoor / Taunton Daily Gazette)

February 19, 2015

• Reverse Robin Hoods: Public Employee Pensions Rob the Young and Poor to Pay the Old and Rich (Steven Greenhut / Reason Magazine
• Illinois Governor Proposes $6 Billion in Cuts and Reducing Pension Benefits (Monica Davey / New York Times)

February 16, 2015

• Hiatus -- A Personal Message From PensionTsunami Publisher Jack Dean

February 13, 2015

• Ailing Public Pensions Hope to Borrow Billions; Critics Call Pension Obligation Bonds a 'Dumb Move’ (Nick Thornton / Benefits Pro)
• Nearly 5,000 New York Teachers Cashing in on Six-Figure Pensions (Leonard Greene / New York Post)

February 12, 2015

• Broke California Cities Can Slice Pensions; Federal Judge Rebukes the 'Bully' CalPERS in Stockton Case (column - Steven Greenhut / U-T San Diego)
• Stockton Bankruptcy Judge's Pension Warning Must Be Heeded (editorial - Contra Costa Times)
• Governor Must Get Real About $72 Billion Debt for California Retirees' Health Care Costs (op-ed - David Crane / Mercury News)
• VIDEO: 'A Discussion on California Pension Reform' (Marin Coalition)
• Illinois' Pension Mess Likely to Get Worse When High Court Rules (column - Greg Hinz / Crain's Chicago Business)
• Food Stamp Beneficiaries Exceed 46,000,000 for 39 Straight Months (Ali Meyer / CNS News)
• PENSION PULSE: List of Highest-Paid Pension Fund CEOs? (blog - Leo Kolivakis)

February 11, 2015

• Upbeat S&P Report on California Also Has CalSTRS Warning (Chris Reed / CalWatchdog)
• Public vs. Private Employees on the Pension Crisis: Nobody Wants Responsibility (Emily Ekins / Reason)
• City of San Diego Fails to Report Most Public Employee Benefit Costs -- "Too Much Trouble"? (Richard Rider / FlashReport)
• California's 28 Top-Paid Lifeguards (Joel Hoffmann / U-T San Diego)
• US Pensions Remain on Shaky Ground, Jeopardizing Benefits for Retirees (Michael A. Fletcher / St. Louis Post-Dispach)
• Illinois Governor Acts to Curb Power of Public Sector Unions (Monica Davey and Mitch Smith / New York Times)
• NEW REPORT: 'The Anatomy of Influence: Government Unions in Illinois' (David Giuliani and Chris Andriesen / Illinois Policy)
• Reduced Pension Benefits Proposed for Retired Firefighters in Fayetteville (Doug Thompson / Arkansas Online)
• Chris Christie, Back in Iowa, Touts Pension Reforms (Kathie Obradovich / Des Moines Register)
• Christie Channels Walker (blog - John Bury / Burypensions)
• Ohio’s Public Pension System Opens Door to Sleight of Hand (editorial - The Vindicator)
• Kansas Lawmakers Mulling $1.5 Billion in Bonds to Shore Up State Pension System (Peter Hancock / Lawrence Journal-World)
• Kansas Pension Fund's Risky Plan (editorial - Lawrence Journal-World)
• Government Debt on the Road to Ruin (Steve Chapman / Reason)
• US Public Pensions Return 6.8% in 2014 for Six Years of Gains (Martin Z Braun / Bloomberg)
• PENSION PULSE: Focus on Emerging Market Infrastructure? (blog - Leo Kolivakis)

February 10, 2015

• CalPERS Gets Schooled: A Judge Says Public Pensions Can Be Impaired as Part of Bankruptcy (editorial - Wall Street Journal)$$
• Hangovers Continue From California Legislature's 1999-2000 Pension Binge (editorial - U-T San Diego)
• REPORT: 562 Pennsylvania Municipalities Have Pension Plans That Are 'Distressed' and Underfunded by $7.7 Billion (Pennsylvania's Auditor General)

February 9, 2015

• Taxpayers Say Don't Put Us on the Hook for Public Pensions (Nancy Smith / Sunshine State News)
• Generous CalSTRS 'Hybrids’ Have Unexpected Risk (blog - Ed Mendel / Calpensions)
• $333,308 for Nothing? Trio of San Jose's Ex-Employees Get Hefty Severance Checks (column - Internal Affairs / Mercury News)
• Philadelphia Pension Fund Pays Retirees $62.4 Million in Bonuses Despite Being Only 47% Funded (Romy Varghese / Bloomberg)
• Pension Obligation Bonds ARE OF THE DEVIL (Don't do it, Brownback!) (blog - Mary Pat Campbell / STUMP)
• 'Falling Short’ Falls Short (blog - John Bury / Burypensions)
• Military Pensions Are 'Bloated' for a Reason (Megan McArdle / Bloomberg)
• PENSION PULSE: Varometer Rising? (blog - Leo Kolivakis)

February 8, 2015

• FOR WEEKEND VISITORS -- SUNDAY:
• Maryland Gov. Larry Hogan’s $13.8 Billion Pension Problem (blog - RiShawn Biddle / Dropout Nation)
• Illinois Gov. Rauner Proposes Bankruptcy as Strategy for Taming Municipal Pension Debt (Ted Ballantine / Pension 360)
• Pension Funds, Special Favors Boost Los Angeles Stadium Plan (column - Dan McSwain / U-T San Diego)

February 7, 2015

• FOR WEEKEND VISITORS -- SATURDAY:
• Poll: 72% of Americans Are Concerned About Public Pension Costs; 82% Say Gov't Workers Should Put More Into Their Own Pensions (Reason Foundation)
• Stockton Bankruptcy Judge Calls California Pension Fund CalPERS a 'Bully' (Robin Respaut / Reuters)

February 6, 2015

• Judge Confirms Approval of Stockton, California's Bankruptcy Plan (Roger Phillips / Stockton Record)
• Stockton Bankruptcy Judge Puts Key CalPERS Rulings in Writing (Dale Kasler / Modesto Bee)
• Riverside, California's City Officials Must Stay on Guard With Pension Costs (editorial - Press-Enterprise)
• California’s Two Major Government Pension Systems Are 'Endangered’ According to Federal Criteria (Stephen Frank / Watchdog.org)
• Massachusetts Public Pension Systems Unprepared for Next Recession, New Study Finds (press release - Pioneer Institute)
• DOWNLOAD OR READ THE STUDY: 'MassPensions.com Update on Public Retirement Systems' (Iliya Atanasov / Pioneer Institute)
• 2014 New York State Payroll Added to SeeThroughNY.net (press release - Empire Center)
• The Wrong Way to Keep Cops and Firefighters on the Job (Charles Chieppo / Governing)
• PENSION PULSE: Will Germany Push Greece Over The Edge? (blog - Leo Kolivakis)

February 5, 2015

• Marin County Advocates With Dueling Viewpoints on Public Pensions Square Off (Richard Halstead / Marin Independent Journal)
• San Diego County Pension Fund Looks Even Scarier From Inside (Samantha Begovich / U-T San Diego)
• The New GASB Accounting Standards for Public Pensions: A Synopsis in Plainer English (blog - John Bury / Burypensions)
• California Gets New Government Accountability Laws (Brad Racino / KPBS)
• State of the State: 10 Pension Facts Every Illinoisan Should Know (Benjamin VanMetre /illinois Policy)
• Risk: The Illinois Pension Devil Seldom Acknowledged (Tia Goss Sawhney / WirePoints)
• States Move to Implement Retirement Accounts (Joel Kranc / Institutional Investor)
• Missouri Supreme Court Won't Take Appeal of St. Louis Overhaul of Firefighter Pension (Nicholas J.C. Pistor / St. Louis Post-Dispatch)
• Detroit Reorganizes. The Muni Market Takes Notes. (Joe Rosenblum / Seeking Alpha)
• PENSION PULSE: Will Deflation Decimate Pensions? (blog - Leo Kolivakis)

February 4, 2015

• Contra Costa County Pension Fund Board to Again Consider Expanding Spiking Opportunities (column - Daniel Borenstein / Contra Costa Times)
• Illinois Workers’ Generous Health Insurance Benefits Make Up $3 Billion of the State’s Budget (Naomi Lopez Bauman / Illinois Policy)
• Ex-Reps. Michel, Lahood, Lipinski Get Top Illinois Congressional Pensions (Better Government Association / Chicago Sun-Times)
• Kern County, California's Outlook Negative After Fiscal Emergency, Says S&P (Robin Respaut / Reuters)
• San Diego Settles Key Pension Case (David Garrick / U-T San Diego)
• How a Teacher’s Pension Fund Became a Real Estate Giant (Tobias Salinger / Financial Observer)
• Germany and Greece: Great Expectations (blog - Mary Pat Campbell / STUMP)
• Pension Reforms Help Promote Social Equality (Zheng Bingwen / China Daily)
• PENSION PULSE: Canadian Pensions Snapping Up Real Estate? (blog - Leo Kolivakis)

February 3, 2015

• The Dangers Presented to California's Cities by Underfunded Pension Plans (editorial - Press-Enterprise)
• City of San Bernardino Needs to Consider Making Difficult But Necessary Changes to its Pension Obligations (editorial - Press-Enterprise)
• Koch Money and a Possible 2016 California Pension Reform Initiative (Joel Fox / Fox & Hounds)
• The 80% Pension Funding Hall of Shame: It Would Be Ideal to Pay the Pensions (blog - Mary Pat Campbell / STUMP)
• Elburn, Illinois Eyes Policing Changes Due to Pension Costs (Susan Sarkauskas / Daily Herald)
• Illinois State Representative Wants to End Pensions for Newly Elected Legislators (Mark Fitton / Illinois News Network)
• Amid Rising Costs, New Orleans Public Employee Pension Fund Under Pressure to Trim Benefits (Robert McClendon / The Times-Picayune)
• Rep. Chaffetz of Utah Introduces Resolution Opposing Bailouts of State and Local Government Pension Plans (blog - John Bury / Burypensions)
• PENSION PULSE: Checkmate For Greece? (blog - Leo Kolivakis)

February 2, 2015

• Feds Place 150 Union Pension Funds in 'Critical' Status (Sean Higgins / Washington Examiner)
• Backtested Pension Math: An Empirical Look at the Causes of CalPERS Underfunding (Michael J. Sabin / The Journal of Retirement)
• Anne Stausboll, CalPERS' CEO: The $300 Billion Woman (Stephen Foley / Financial Times)
• CalPERS: For Moral Fibre, Read Moral Hazard (letter - William E. Monnet / Financial Times)
• Pension Funds' Shareholder Clout Reshapes Corporations (blog - Ed Mendel / Calpensions)
• Moody's May Cut Rating of California's Kern County After Fiscal Emergency (Tim Reid / Reuters)
• Chicago's Mayor Won't Rule Out a Property Tax Hike for Police and Firefighter Pensions (John Byrne / Chicago Tribune)
• Illinois Emerging From Denial; Chicago, Other Cities Stuck in La La Land (Mark Glennon / WirePoints)
• In Illinois' Capitol, 'Shared Sacrifice' Is Not Exactly Shared (Natasha Korecki / Chicago Sun-Times)
• Pennsylvania's Long-Term Problems Offer Opportunities for Change (op-ed - Elizabeth Stelle / Lancaster Online)
• Texas vs. California Update (blog - Lawrence Person / BattleSwarm)
• Government Leadership Is an Oxymoron (column - Ian Lamont / Orange County Register)
• PENSION PULSE: Greece’s Do-Or-Die Moment? (blog - Leo Kolivakis)

January 30, 2015

• Rethink California's Costly Public Employee Pensions (editorial - Press-Enterprise)
• Pension Ruling Avoids Core Reform Issue; San Diego Case Only a Slight Setback for California's Pension Reformers (Steven Greenhut / U-T San Diego)
• California's Millennials Must Recognize the Need for Public Pension Reform (Lance Christensen / Heartland Institute)
• Comparing CalPERS and CalSTRS With AT&T Retirement (Wayne Lusvardi / CalWatchdog)
• California Runs Risk of Financial Relapse, Ratings Agency Says (Chris Megerian / Los Angeles Times)
• California Pension Reform Act of 2013 Partially Violates Prohibition Against Impairment of Contracts (Meredith Garey / Kronick, Moskovitz, Tiedemann)
• Illinois' $111 Billion Pension Hole (video - John Tillman / Wall Street Journal)
• New Jersey Governor Christie Cleared Again (blog - John Bury / Burypensions)
• State of Florida Warns Pension Plans: Fix Your Sinking Ships (Tia Mitchell / Florida Times-Union)
• Panel Calls for Overhaul of Military Pensions (Tom Vanden Brook / USA Today)
• PENSION PULSE: Will the Fed Make a Monumental Mistake? (blog - Leo Kolivakis)

January 29, 2015

• Kern County, California Declares Fiscal Emergency Amid Plummeting Oil Prices and Increasing Pension Costs (James Burger / Bakersfield Californian)
• Public Employee Pension Costs a Growing Expense for Manteca, California (Dennis Wyatt / Manteca Bulletin)
• A RESPONSE TO KEITH BRAINARD OF NASRA: Are Public Pensions Actually in a Crisis? Or Is It Just a 'Math Issue'? (blog - Mary Pat Campbell / STUMP)
• California's State Pension Funds Improve Performance, But Members Are Living Longer (Wayne Lusvardi / CalWatchdog)
• Report Card for Teacher Pension Plans: Unfunded Liabilities Total $499 Billion (blog - Susan Mangiero / Pension Risk Matters)
• READ THE REPORT: 'Doing the Math on Teacher Pensions: How to Protect Teachers and Taxpayers' (National Council on Teacher Quality)
• What's Ahead for California's Public Employee Health Benefits (column - Jon Ortiz / Sacramento Bee)
• Sacramento’s 'Wall of Debt’ Grows Dangerously High; Unfunded Liabilities Now Stand at Nearly $2.3 Billion (editorial / Sacramento Bee)
• On Autocracy and Ignoring California's Public Pension Plans' $240 Billion Shortfall (letter - Santa Clarita Valley Signal)
• Louisiana Teachers Retirement System Gets C- Grade, Study Says (Jessica Williams / The Times-Picayune)
• Louisiana Public Employees' Pensions Can't Be on Cruise Control (column - James Varney / The Times-Picayune)
• Louisiana Teachers Retirement System Won't Be Studied, State School Board Decides After Objections from Unions (Jessica Williams / The Times-Picayune
• Public Sector Unions Gain Power, Lose Popularity, Says Economist (Nancy Thorner / Heartland Institute)
• Supreme Court Rejects Presumption of Health-Benefit Vesting, Calling for Analysis Under Ordinary Contract Principles (blog - Ronald Mann / SCOTUSblog)
• Illinois Pension Ruling May Not Impact Chicago Case, Attorney Says (Karen Pierog / Reuters)
• An Interest-Rate Increase Is Necessary for the Financial Health of Pension Plans (editorial - Pensions & Investments)
• We Need to Look at Our Public Retirement System in New Hampshire (op-ed - Bill Dermody / Concord Monitor)
• New Hampshire Retirement System Reform Needed Now; Current Defined Benefit Program Is No Longer Affordable (letter - Seacoast Online)
• West Virginia’s Long Road to Fiscal Soundness (Hoppy Kercheval / Metro News)
• Why Christie Shouldn’t Win (blog - John Bury / Burypensions)
• PhillyDeals: Thriving in a Place That Forgives, or Forgets (column - Joseph N. DiStefano / The Inquirer)
• Property Tax Levy Dipping for Portland, Oregon's Public Safety Pension and Disability Fund (Maxine Bernstein / The Oregonian)
• Congressmen Propose Dumping House Pension Program; Taxpayers Fund Retirement for Millionaires (blog - Scott Shackford / Reason)
• 1 in 3 Receiving Federal Disability Insurance Benefits Have a Mental Disorder (Ali Meyer / CNS News)
• PENSION PULSE: Soros Warns Pensions on Hedge Funds? (blog - Leo Kolivakis)

January 28, 2015

• Waning Birth Rate Will Increase Financial Stress on California (commentary - Jerrold H. Jensen / Visalia Times-Delta)
• California Gov. Jerry Brown and Public Employee Unions Set to Tangle Over Health Insurance Costs (column - Jon Ortiz / Sacramento Bee)

January 27, 2015

• Underfunded Public Pensions: Tackling an 'Invisible' Crisis (Wharton School of the University of Pennsylvania)

January 26, 2015

• California's Public Sector Pay: Transparency and Perspective (column - Jon Coupal / Howard Jarvis Taxpayers Association)
• How Paid Sick Leave Has Been Unhealthy for California's Public Employee Pensions (blog - Ed Mendel / Calpensions)
• Pension Costs Hobble Police Hiring as San Diego Seeks Boots on the Street (Toluse Olorunnipa / Bloomberg)

January 25, 2015

• Deadline Looming for San Bernardino's Bankruptcy Exit Plan (editorial - Press-Enterprise)
• Is Deficient Recruiting the Real Reason for Police Understaffing in San Diego? (Ed Ring / UnionWatch)
• Detroit Workers, Retirees Filing Briefs in 8 Appeals of City’s Bankruptcy Plan (Diane Bukowski / Voice of Detroit)
• How Will Illinois' High Court Rule on Pension Reform? (Paul Merrion / Crain's Chicago Business)
• Chicago's City Lawyers Predict 'Catastrophic Outcome' if Pension Reform Is Overturned (Fran Spielman / Chicago Sun-Times)
• New Hampshire House Speaker Creates Pension Reform Study Group (Concord Monitor)
• Hedge Fund Chief: 'Sorry' for Losing It All (column - Mitch Tuchman / Forbes)

January 24, 2015

• California Court Upholds Constitutionality of Public Employee Pension Cuts (Kenneth Ofgang / Metropolitan News-Enterprise)
• Police and Firefighters Battle in Salinas, California Battle Skyrocketing Overtime Costs (Allison Gatlin / Salinas Californian)
• NOTE TO OUR VISITORS AND SUBSCRIBERS: Reduced Publishing Schedule This Week for PensionTsunami.com

January 23, 2015

• Bankrupt San Bernardino to Impair Bondholders But Not CalPERS in Exit Plan, Says City Attorney (Tim Reid / Reuters)
• California's Public Pension Legal Costs Need to Be Public (op-ed - Michael Lotito & Bob Bunnell / Marin Independent Journal)
• See the California Capitol Region's 1,000 Highest-Paid Local Government Officials (Brad Branan / Sacramento Bee)
• LA 2020 and Voters Get the Bum's Rush From Herb Wesson and the Los Angeles City Council (Jack Humphreville / CityWatch LA)
• Public Emloyee Pensions in Nevada Are Often Better Than Paychecks, New Analysis Shows (press release - Nevada Policy Research Institute)
• READ THE REPORT: 'Pensions in Nevada Are Often Better Than Paychecks' (pdf - Nevada Policy Research Institute)
• Kansas Governor's Pension Plans Would Boost Long-Term Costs (KWCH-TV)
• Billionaire Currency Trader George Soros Warns Against Investing Public Pension Money in Hedge Funds (David Sirota / International Business Times)
• Another Stupid Idea From New Jersey Pension Reformers (blog - John Bury / Burypensions)
• PENSION PULSE: Taming New Jersey's 'Insatiable Beast'? (blog - Leo Kolivakis)

January 22, 2015

• New San Jose Firefighters Will Receive Reduced Pensions Under Measure B (Matt Keller / KGO-TV)
• Debate Ahead Over Proposed Shift in Indiana's Pension Plan (Troy Kehoe / WISH-TV)
• Review of Dallas Police-Fire Pension Confirms Overvaluation of Real Estate (Steve Thompson / Dallas Morning News)
• So What’s the Plan for New Jersey's Public Pensions? (blog - John Bury / Burypensions)

January 20, 2015

• Sad End for CalPERS Private Equity 'Golden Years’ (blog - Ed Mendel / Calpensions)
• A Swiss Lesson for San Diego County’s Public Pension Speculators (column - Dan McSwain / U-T San Diego)
• The Formidable Jerry Brown (Steven Greenhut / City Journal)
• How New Jersey Got Into This Pension Mess (blog - John Bury / Burypensions)
• Public Pensions Watch: Why Are New Jersey Pensions So Screwed? (blog - Mary Pat Campbell / STUMP)
• A Clause Worth Billions; As Illinois Struggles, Pension Systems Return to Court (Mark Fitton / Watchdog.org)
• Illinois Municipal Police and Fire Pensions to Go Up in Smoke? (column - Jim Nowlan / News-Gazette)
• The 'Tier 2′ Pension Mess in Illinois (Mark Glennon / WirePoints)

January 19, 2015

• FOR OUR M.L.K. HOLIDAY VISITORS:
• Orange County's Cities Still Face Significant Financial Risks Due to Underfunding of Pensions (Teri Sforza / Orange County Register)
• Gov. Jerry Brown Tackles California's $72 Billion Unfunded Retiree Health Liability (Redding Record Searchlight)

January 18, 2015

• FOR WEEKEND VISITORS -- SUNDAY:
• If Government Accountants Are Worried About the Financial State of the States, Taxpayers Should Be Petrified (Bob Williams / Huffington Post)
• The Other Debt Bomb in Public-Employee Benefits: $1 Trillion in Underfunded Health-Care Obligations (op-ed - Robert C. Pozen / Wall Street Journal)$$
• Pay for California's Retiree Health Care by Putting Government Workers in Obamacare (Joe Mathews / Fox & Hounds)

January 16, 2015

• Public Employee Unions vs. the Public (book review - Amity Shlaes / Wall Street Journal)

January 15, 2015

• California’s Exploding Public Employee Retirement Costs Threaten Our State’s Fiscal Future (op-ed - Chuck Reed / U-T San Diego)
• Thousands of California State Workers Are Hoarding Vacation Days (Will Evans / Center for Investigative Reporting)
• Top Lawyer for California Controller Benefits From Much-Criticized State Perk (Chris Reed / CalWatchdog)
• LAPD Makes Fresh Push for Higher Pay (James Poulos / CalWatchdog)
• Key Defendent in CalPERS Bribery, Fraud Case Appears to Have Killed Himself (Scott Sonner and Sudhin Thanawala / Associated Press)
• CalPERS Posts 18.4% Return on Investments in 2014 Fiscal Year (Marc Lifsher / Los Angeles Times)
• CalPERS’ Financial Health Improves (Dale Kasler / Sacramento Bee)
• Healthy Pension Plans Have 100% Funding (letter - Mary Pat Campbell / The Day)
• The 80% Pension Funding Hall of Shame: I Write Letters (blog - Mary Pat Campbell / STUMP)
• Expect No Leadership on New Jersey's Pension Issue (blog - John Bury / Burypensions)

January 14, 2015

• BREAKING@2:00PM: Alfred Villalobos, Fixture in CalPERS Corruption Scandal, Apparently Committed Suicide (Dale Kasler / Sacramento Bee)
• California Lawmaker Proposes Taxing Services to Pay for Pensions (Chriss W. Street / Breitbart California)
• CalPERS Reports Improved 2014 Finances, Investment Returns (Tim Reid / Reuters)
• State's Lawyers Argue Illinois Pension Protection Not 'Absolute' (Rick Pearson / Chicago Tribune)

January 13, 2015

• Remember That 'Temporary' Tax Hike for California Schools? Most Is Now Going to Public Employee Pensions (Steve Malanga / Wall Street Journal)$$
• Key Figure in CalPERS Bribery Case Is Too Ill for Trial, Lawyer Says (Dale Kasler / Sacramento Bee)
• Cross and Rutherford Are Illinois Electoral Losers, But Pension Winners (op-ed - Patrick Rehkamp / Chicago Sun-Times)
• LIVE RADIO TODAY: PensionTsunami's Jack Dean Will Be a Guest on the Andy Caldwell Show at 4:00 Pacific (KUHL-AM 1440 / Santa Maria)

January 12, 2015

• Gov. Jerry Brown Wants California's State Workers to Pay Ahead for Retiree Benefits (column - Jon Ortiz / Sacramento Bee)
• Gov. Brown's Plan to Eliminate California's Retiree Health Care Debt (blog - Ed Mendel / Calpensions)
• San Bernardino Sued for Favoring Pensioners Over Bondholders (Steven Church / Bloomberg)
• New Category of California Public Employees Tries to Sandbag Pension Fixes (Chris Reed / CalWatchdog)
• The Unions-Driven Crisis That Could Be Coming to a City Near You (Stephen Moore / Daily Signal)
• California Pension Reform 2016: The Website of the Coalition for Fair and Sustainable Pensions
• EDITORIAL CARTOON: Taking on the Illinois Pension Reform Challenge (Crain's Chicago Business / Illinois Policy)
• Detroit Fires Pension Fund Lawyer After Scandal (Christine Ferretti / Detroit News)
• Major Retirement Systems and Public Policy Proposals Graded by Actuaries (press release - American Academy of Actuaries)
• Britain's Bill for EU Membership Will Be Higher Than Expected Because of the Cost of Pensions for Brussels Officials (Bruno Waterfield / Telegraph)
• PENSION PULSE: On the Verge of Another Euro Crisis? (blog - Leo Kolivakis)

January 9, 2015

• Bondholder Sues Bankrupt San Bernardino for Favoring CalPERS (Tim Reid / Reuters)
• Do Millenials Know That Public Pension Systems Need Reform? (Lance Christensen / California Political Review)
• California Pension Reform Should Include the Police (Carson Bruno / Real Clear Markets)
• CalFire Model Is Unsustainable, Not Just for Canyon Lake But for Cities Throughout California (Friday Flyer)
• Why Is the Los Angeles City Council Ignoring the Recommendations of the LA 2020 Commission? -- Part 1 (Jack Humphreville / CityWatch LA)
• Nothing Exceptional About Bullying Tactics in New Jersey (blog - John Bury / Burypensions)
• PENSION PULSE: An Insider’s View of Canada's Pension Debate? (blog - Leo Kolivakis)

January 8, 2015

• The Average CalPERS Pension Is Up to 5 Times Greater Than Comparable Social Security Payouts (Robert Fellner / California Policy Center)
• California's Public Employee Retirement Pensions Akin to Daddy Warbucks (op-ed - Stephen Moore / Sierra Star)
• California Judges Fight for Bigger Pensions (column - Jon Ortiz / Sacramento Bee)
• California Courts Blew $30 Million on High Salaries, Other Costs According to State Audit (Kurt Orzeck / Law360)$$
• Pasadena Residents Outraged Over $6.4-Million Embezzlement Scandal (Frank Shyong / Los Angeles Times)
• REPORT: Reforming Government Pensions to Better Distribute Benefits; What Are the Options? (pdf - Richard W. Johnson / Urban Institute)
• OFF TOPIC: Time Capsule Buried in Boston by the Real 'Sons of Liberty' Opened After 220 Years (Joel Christie / Daily Mail)
• Illinois Auditor General Report Kicks Off Another Year of Pension Madness and Underfunding (Mark Glennon / WirePoints)
• Expect No 'Guidance’ on Pension Reform From Illinois Supreme Court (Mark Glennon / WirePoints
• Pennsylvania's Public Pension 'Ka-Boom' (editorial - Tribune-Review)
• Texas vs. California Update (blog - Lawrence Person / BattleSwarm Blog)
• PENSION PULSE: The Coming War on Pensions? (blog - Leo Kolivakis)

January 7, 2015

• Four Shadows Fall Across California’s Budget (op-ed - David Crane / San Francisco Chronicle)
• Former San Jose Mayor Chuck Reed Returns to Real Estate Law (Joe Rodriguez / Mercury News)
• Rhode Island's Central Coventry Fire District Files for Bankruptcy (Ted Nesi / WPRI-TV)
• After Banner Year, Pennsylvania School Pension Fund Is Still Deep in the Red With a $35 Billion Shortfall (Eric Boehm / Pennsylvania Independent)
• Financially Troubled Fall River, Massachusetts May Need 'Bitter Medicine' Says New Mayor (Ted Nesi / WPRI-TV)
• How Did State/Local Public Pension Plans Become Underfunded? (blog - John Bury / Burypensions)
• The 80% Funding Hall of Shame: Oh THOSE Experts Say (blog - Mary Pat Campbell / STUMP)
• Funding of S&P 1500 Pensions Plans Slipped 9% in 2014 (PlanSponsor)
• PENSION PULSE: Outlook 2015: A Rough and Tumble Year? (blog - Leo Kolivakis)

January 6, 2015

• Gov. Brown's Final Inauguration: Will He Emphasize Fiscal Control or Far-Reaching Environmental Agenda? (Steven Greenhut / U-T San Diego)
• How Did State/Local Public Pension Plans Become Underfunded? (Alicia H. Munnell, Jean-Pierre Aubry & Mark Cafarelli / Center for Retirement Research)

January 5, 2015

• Public Employee Pensions a Middle-Class Crusher (column - Stephen Moore / Orange County Register)
• The University of California Is Raising Tuition to Fund Its Mismanaged Pension System (Lawrence J. McQuillan / National Review)
• Will Gov. Brown Propose Paying California Judges' Pension Debt? (blog - Ed Mendel / Calpensions)
• California Public Employees Accused of Lying and Theft Face Few Penalties, Says New Report (Steven Greenhut / Reason)
• READ THE REPORT: 'Investigations of Improper Activities by State Agencies and Employees' (pdf - California State Auditor)
• California’s Royals of Retirement Denial (column - Dan McSwain / U-T San Diego)
• For Some North Carolina Retirees, a Big Pension -- and Then Some More (Dan Kane and David Raynor / News & Observer)
• The Real Scandals of Pension Spiking in New Jersey (blog - John Bury / Burypensions)
• New Jersey Court Scraps Copayment Hikes for Public Worker Retirees (Martin Bricketto / Law360)
• Worst Pension Reporting of the Week in Illinois (Mark Glennon / WirePoints)
• PENSION PULSE: Engineering Your Alpha This New Year? (blog - Leo Kolivakis)

Categorized News | Full News Archives