• 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 state pension funds, corporate pensions, milti-employer pension funds, social security and international trends. Now in its 15th year, PensionTsunami was founded by and is edited by Jack Dean. (Contact: JackDean-at-PensionTsunami-dot-com or 916-644-0688 or @PensionTsunami)

Latest Newsclips     last updated September 17 9:36am PST

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

September 17, 2019

• As of 2:30 AM (Pacific Time) . . .
• Marin County's Elected Leaders Seek 10-Year Plan on Pension Costs (Richard Halstead / Marin Independent Journal)
• Health Insurance Costs 'Wildly Inflated’ for California's Government Workers, Analysis Finds (Teri Sforza / Orange County Register)

September 16, 2019

• How Kamala Harris Helped Kill Pension Reform in California (Yuichiro Kakutani / Washington Free Beacon)
• California Unions Want to Gut Prop. 13 to Pay for Rising Pension Costs (editorial - Las Vegas Review-Journal)
• CalSTRS Faces Calls to Divest From Fossil-Fuel Investments (Arleen Jacobius / Pensions & Investments)

September 13, 2019

• Taxpayers Lose Again: Proposed California Pension Bill SB266 Could Affect Lemoore's General Fund (Lauren Wagner / Hanford Sentinel)
• Michigan's Pension Costs Eat Up Education Funding, and Teacher Pay Stagnates (Sarah Cwiek / NPR)
• A Generation of Sociopaths (1): The Brief Triumph of Long Retirement (blog - John Bury / Burypensions)

September 12, 2019

• CBO: Proposed Bailout of Failing Union Pension Funds Won’t Work, as Loans Will Go Unpaid (Mark Tapscott / The Epoch Times)
• Illinois Public Services Being Cut to Pay Unsustainable Pension Cost (Adam Schuster / Illinois Policy Institute)
• Under Bloomberg Pressure, CalPERS Coughs Up BCG Report on Private Equity (blog - Yves Smith / Naked Capitalism)
• Corporate Pension Funding Moves Closer to Worrisome 80% Level (Katherine Chiglinsky, Molly Smith & David Caleb Mutua / Bloomberg)

September 11, 2019

• Bay Area Officials Are Making Bank Off of Retirement Pensions (audio - Phil Matier / KCBS Radio)
• CalPERS Election Corruption: Huge and Illegally Opaque Dark Spending Against Candidate JJ Jelincic (blog - Yves Smith / Naked Capitalism)
• CalPERS’ Blatant Election and Mail Fraud (blog - Yves Smith / Naked Capitalism)

September 10, 2019

• Unions Pour Cash Into CalPERS Board Election, Use Mailer to Highlight Sexual Harassment Complaint (Bryan Anderson & Wes Venteicher / Sacramento Bee)
• We Can’t Do Worse (blog - John Bury / Burypensions)

September 9, 2019

• Wildly Inflated Public Employee Health Costs Are Costing California Taxpayers $3.3 Billion Annually (blog - Transparent California)
• Sweet Deal: Some Retired Public Employees’ Pensions Are Bigger Than Their Salaries Were (column - Phil Matier / San Francisco Chronicle)
• CalPERS and CalSTRS Golden Handshake: Pension 'Air Time' Lives On (blog - Ed Mendel / Calpensions)
• A Progressive View of California's Pension Problem (oped - Ron Garber / Whittier Daily News)

September 6, 2019

• Californians Can Consider Any New Property Taxes as Pension Taxes (Steven Greenhut / Reason)
• California Pension Mistakes Would Cost Cities -- Not Retirees -- Under Proposed Law (column - Wes Venteicher / Modesto Bee)

September 5, 2019

• A Slow-Motion Disaster (column - Dan Walters / Napa Valley Register)
• It's the Insolvency, Stupid -- Why Pensions Really Are an Urgent Issue for Chicago (Elizabeth Bauer / Forbes)
• Springfield, Illinois, Wants to Cut Police, Fire Pension Costs (Governing)
• Secrets to Success in Managing a Pension Fund (Barry Ritholtz / Bloomberg)

September 4, 2019

• Low Interest Rates Are Compounding the Big Problems Facing Pension Funds (Amit Sinha / MarketWatch)
• Worldwide, Tens of Thousands Still Receive 'Nazi Pension' (EU Observer)

September 3, 2019

• How a More Than $50 Billion Bet Boosted CalPERS Returns (Randy Diamond / Chief Investment Officer)
• State Pension Funds Keep Increasing Risky Investments — as Pension Debt Mounts (Steven Malanga / City Journal)
• Illinois CAFR Arrives, Late and Covered in Red Ink (Yvette Shields / The Bond Buyer)
• Chicago's Mayor Lightfoot Is Still Not Ready to Lead on Pensions (Elizabeth Bauer / Forbes)

August 30, 2019

• CalPERS Falls Further Behind (editorial - Press Democrat)
• Case Study: Connecticut Town’s Change From DB to DC Plan Having Desired Effect (Brian Anderson / 401(k) Specialist)

August 29, 2019

• Are Public Pensions in a Crisis? Part 5: On Bonds and Bailouts (blog - Mary Pat Campbell / STUMP)
• Pension Funds Reel From Falling Bond Yields (video - Bloomberg)
• Lompoc Takes First Step in Holding Sales Tax Election; Almost All Proceeds Will Go Toward Pension Obligations (Zac Ezzone / Santa Maria Sun)
• San Jose Lawmakers Drop Decision on Top Retirement Officials’ Plan (Nadia Lopez / San Jose Spotlight)
• Connecticut's Teacher Pension Funding Continues to Fall Despite Full Payments (Marc E. Fitch / Yankee Institute)
• Judge Rules That Public Has Right to NYPD Pension Info (Bernadette Hogan & Bruce Golding / New York Post)

August 28, 2019

• When California's Public Employee Pensions Get Bigger Than Big (editorial - Orange County Register)
• Santa Clara Police Chief Steps Down Early; Will Cash Out Over $500,000 in Vacation/Sick Leave Pay (Robert Haugh / Santa Clara News Online)
• Are Public Pensions in a Crisis? Part 4: On Closing DB Plans and Replacing Them With DC Plans (blog - Mary Pat Campbell / STUMP)

August 27, 2019

• Trio of Los Angeles-Area City Workers Made Over $2 Million Last Year (Robert Fellner / Transparent California)
• California Highway Patrol Puts 14% of Its Raise Toward Pensions; New Contract Reflects Pension Debt Concern (column - Wes Venteicher / Sacramento Bee)
• Marin School District Pension Debt Can Top $24,000 Per Household (Keri Brenner / Marin Independent Journal)
• As $100,000 Club Balloons, a More Elite Circle of City Employees Emerges: The $200,000 Club (Samantha Mehlinger / Long Beach Business Journal)
• Defined Benefit Programs Continue to Disappear in Private Sector (FedWeek)
• No, Bernie Sanders' Plan Won't Rescue Multiemployer Pensions ( Elizabeth Bauer / Forbes)

August 26, 2019

• CalPERS Gets Candid About the 'Critical' Decade Ahead (blog - Ed Mendel / Calpensions)
• Blame the Fed for the Coming Pension Fund Crisis (Austin Rogers / Seeking Alpha)
• Potemkin Pension Accounting in California (David Crane / Medium.com)
• It’s Time for Truth in State and Local Government Finances (op-ed - George P. Shultz & David G. Crane / San Francisco Chronicle)

August 23, 2019

• With Pension Burden Climbing, California Highway Patrol Agrees to Delay Some Raises (column - Wes Venteicher / Sacramento Bee)
• Are Public Pensions in a Crisis? Part 3: Is It Just an Accounting Problem? (blog - Mary Pat Campbell / STUMP)
• Is the Sacramento Bee a Newspaper or a Front for the CalPERS Staff? (Tony Butka / CityWatch LA)

August 22, 2019

• Bubble Watch: California Gets Its 1st Credit-Ratings Upgrade in 3 Years (Douglas Digital Daily)
• Millennials Are the New Face of the Retirement Crisis (op-ed - Mark Hulbert / MarketWatch)

August 21, 2019

• Japan's Pension Fund -- the World's Largest -- Warns of Global Investing Losses (John Gittelsohn / Bloomberg)
• Los Alamitos City Council Confronts Fiscal Sustainability Crisis; Without Action, City Is Expected to Go Broke Soon (Orange County Breeze)
• Rockford, Illinois' Public Safety Pension Costs to Soar (Jeff Kolkey / Register Star)
• Rising Pension Costs Contribute to Higher Property Taxes in Idaho (column - Wayne Hoffman / Idaho Press)

August 20, 2019

• Pensions and Taxes in California: A Slow-Motion Disaster (Dan Walters / CALmatters)
• Avalanche of California School Bonds on Your Ballot in 2020; Every School Bond Is for Pensions (Richard Rider / Flash Report)
• Are Public Pensions in a Crisis? Part 2: Is Pay-As-You-Go Sustainable? (blog - Mary Pat Campbell / STUMP)
• California Slates $300 Million Bond Issue to Fund CalSTRS Expansion Project (Arleen Jacobius / Pensions & Investments)
• 'He Did Not Perform Any Work’: Former CSU Professor Loses 10 Years of CalPERS Service Credit (column - Wes Venteicher / Sacramento Bee)

August 19, 2019

• Pension Tracker Adds 1,700 School Districts to Cover 3,400 California Public Agencies (press release - Stanford Inst. for Economic Policy Research)
• VISIT THE WEBSITE: California Pension Tracker (Stanford Institute for Economic Policy Research)
• Are Public Pensions in a Crisis? Part 1: My Opinion (blog - Mary Pat Campbell / STUMP)
• CalPERS Faces 'Very Serious Risk’ in $1.2 Billion Long-Term Care Case, Judge Warns (column - Wes Venteicher / Sacramento Bee)
• America Is Facing a Pension Crisis. Retirees Will Pay the Price if We Don't Act Now (John Boehner & Joe Crowley / CNN Business)

August 16, 2019

• California’s Costly Local Government Pension Profligacy (editorial - Orange County Register)
• No More Limos for LACERA Board’s Travels (Elijah Owens / Chief Investment Officer)

August 15, 2019

• City of Richmond, California Faces Pension Stress (Edward Ring / FlashReport)
• Nearly 40% of Illinois' Education Spending Consumed by Pension Costs (Adam Schuster / Illinois Policy)
• Wall Street Journal Publisher Tells Supreme Court of Being Victimized by CalPERS (Eriq Gardner / The Hollywood Reporter)
• A Proposed CalPERS Board Code of Conduct Is Still Generating Controversy (Randy Diamond / Chief Investment Officer)

August 14, 2019

• California State University Defends $1.5 Billion in Reserves Following Critical State Audit (Adam Beam / Press Democrat)
• US Contemplates Joining California Secure Choice Lawsuit (Rebecca Moore / PlanAdviser)
• Vacaville City Council to Vote on Response to Grand Jury Report on OPEB (Nick Sestanovich / the Reporter)
• Oregon State Employees Sue to Overturn Pension Reform Statute Mandating Contributions (Rob Kozlowski / Pensions & Investments)/
• To Help Reduce Pension Debt, Connecticut Eyes Privatizing Publicly Owned Assets (Steven Malanga / City Journal)
• Union Pension Underfunding Is Bankrupting the PBGC (op-ed - Rachel Greszler / Washington Times)

August 13, 2019

• Public School Cronyism Is Fueling the Pension Crisis (Lewis M. Andrews / The American Conservative)
• He Has a History of Sexual Harassment. So How Is This CalPERS Board Candidate a Favorite to Win? (opinion - Marcos Bretón / Sacrameto Bee)

August 12, 2019

• Were Sonoma County's Pensions Benefits Retroactively Enhanced Without Notifying the Public? (Edward Ring / California Policy Center)
• READ: Appellant’s Reply Brief, 'George Luke vs Sonoma County' (pdf)
• Underfunded Public Pensions Put Future Taxpayers on the Hook (Ivan Osorio / Competitive Enterprise Institute)
• Elizabeth Warren’s Curb on Top Pension Investment Abuses (blog - Ed Mendel / Calpensions)
• Kentucky's New Pension Law Marks Unprecedented Reforms (Liz Farmer / Governing)
• Governing Magazine to Discontinue Publication This Fall

August 9, 2019

• With California’s Public Pensions, Nothing Exceeds Like Excess (blog - K. Lloyd Billingsley / Independent Institute)
• Public Pension Fund Returns Are Lowest in Three Years (Fox Business)
• Six People Wanted to Help Cut $3.5 Million From Santa Monica's Budget (Madeleine Pauker / Santa Monica Daily Press)
• A Modest Proposal to Solve Illinois' Pension Woes (Elizabeth Bauer / Forbes)
• Lawmakers Demand Help for Union Pensions (John Manganaro / PlanSponsor)

August 8, 2019

• San Mateo County Grand Jury Encourages Pension Cost Transparency (Davis Rich / Half Moon Bay Review)
• Companies Are Racing to Dump Their Defined Benefit Pension Plans (Jennifer A. Kingson / Axios)
• Pension Safety Net PBGC on Track to Tank by 2025 (Law360)$$
• National Multi-Employer Pension Fiasco Merits Real Reform, Not a Bailout (Andrew Wilford / National Review)
• Retired New York Cops 'Getting Away With Murder’ by Raking in Fat Pensions, Says Report (Bernadette Hogan & Carl Campanile / New York Post)
• More New York Downstate Police Pensions Topping $100,000 (press release - Empire Center)

August 7, 2019

• CalPERS Board Considers Gag Policy (Randy Diamond / Chief Investment Officer)
• House Passes Multi-Employer Pension Bailout Plan as Dems Eye Union-Heavy States in 2020 (Laura Davison / Berkshire Eagle)
• Feds May Weigh in on CalSavers Lawsuit (Nevin Adams / American Society of Pension Professionals & Actuaries)
• Here's How Much Your State Spends on Retirement (Samuel Stebbins / USA Today)

August 6, 2019

• More Than 1,000 Public Employee Pensions in California Are So Big They Exceed IRS Limits (column - Wes Venteicher / Sacramento Bee)
• The Most Important Political Appointment in 2019: Who Should Chair GASB (David Crane & Don Boyd / Fox & Hounds)
• America’s Public Employee Pension Funds Fell Short in 2019 (Heather Gillers / Wall Street Journal)
• California Taxpayers Are on the Hook for 26,000 Government Pensions Over $100,000, a 13-Fold Increase From 2005 (Teri Sforza / Orange County Register)

August 5, 2019

• California’s Treasurer Celebrates State’s Tax-And-Spend Addiction (editorial - San Gabriel Valley Tribune)
• 'Fiscal Democracy,' Autopilot Spending, and Pension Underfunding: A New Report (Elizabeth Bauer / Forbes)
• I See a Bailout for Multiemployer Pension Plans (blog - John Bury / Burypensions)
• A Silent Pension Crisis Is Eating Away Local Government Services. Here’s What You Need to Know. (analysis - Sarah Anzia / Washington Post)
• Local Pension Costs Grew in California at Nearly Six Times National Rate, New Data Show (column - Wes Venteicher / Sacramento Bee)
• A Roadmap for Preventing US Public Pension Funds From Becoming a Taxpayer Burden (op-ed - Clive Lipshitz & Ingo Walter / Pensions & Investments)

August 2, 2019

• Public Employee Pension Costs Make California Agencies 'Do Less With More,’ Berkeley Professor Says (CalCoastNews)
• READ: 'Pensions in the Trenches: How Pension Costs Are Affecting US Local Governments' (Sarah F. Anzia / UC Berkeley)
• Social Security COLA for 2020: Will Trade Wars Increase SSA's Projection? (Nick Thornton / Benefits Pro)
• Three Pension Bills on Hold in Congress Until September (blog - John Bury / Burypensions)

August 1, 2019

• Funds for Military Pensions, Afghan Security Forces Among Those Being Diverted for Border Wall (Ben Kesling / Wall Street Journal)
• Los Angeles County Supervisors Call for More Audits of County Employees Retirement Association LACERA (Pasadena Now)

July 31, 2019

• How Wisconsin Fully Funded Its Retirement System (Chris Rochester / MacIver Institute)
• CalSTRS CIO Says Trump Tweets Are a 'Key Market Risk’ to Monitor (Elijah Owens / Chief Investment Officer)
• 'Painful, Emotional’ Tuolomne County Government Restructuring to Begin Next Week (Alex Maclean / Union Democrat)

July 30, 2019

• California Taxpayer Rights Group Re-engages CalSavers Challenge (Nevin Adams / American Society of Pension Professionals & Actuaries)
• $22,000 for a Trip to Australia? LACERA Pension Fund Trustees Draw Scrutiny Over Travel Costs (Matt Stiles / Los Angeles Times)
• Ultralow Interest Rates Bring Opportunity and Danger to States; What’s Good for Infrastructure Is Bad for Pensions (Brian Chappatta / Bloomberg)
• Elizabeth Warren’s Private Equity Plan May Harm Public Employees (Marc Joffe / California Policy Center)
• Senators Advance Effort to Curb Congressional Pensions (Katherine Tully-McManus / Roll Call)

July 29, 2019

• CalPERS Loss Triggers More Debt Payment Reform (blog - Ed Mendel / Calpensions)
• California’s Surplus Is How Much? (op-ed - Jon Coupal / Orange County Register)
• A Decade of Low Interest Rates Is Changing Everything (Liz McCormick / Bloomberg)
• GOLDEN OLDIE: When City Retirement Pays Better Than the Job (Jack Dolan / Los Angeles Times)
• Why Should New JerseyTaxpayers Pay 50 Percent More for Public Workers’ Benefits, Pensions? (op-ed - Regina Egea / NJ.com)

July 26, 2019

• America’s Public Pensions Are Stuck in the Clouds (Spencer Jakab / Wall Street Journal)
• US Senate Reintroduces Multiemployer Pension Reform Bill (Hazel Bradford / Pensions & Investments)

July 25, 2019

• California Tax Revenue Is Soaring, So Why All the Talk of Tax Increases? (op-ed - Dan Walters/ Orange County Register)
• Jerry Brown, His Eye Still on Pensions, Endorses Candidate in CalPERS Board Election (column - Wes Venteicher / Sacramento Bee)
• EDITORIAL CARTOON: Pension Reform (Tom Meyer / Meyertoons.com)
• Connecticut Pension Funding Declines 10% in Seven Years Pensions (Marc E. Fitch / Yankee Institute)

July 24, 2019

• Another California Pension Fund (CalSTRS) Falls Just Short of Its Investment Return Target (column - Wes Venteicher / Sacrament Bee)
• The Ultimate Double-Dip: Collecting 2 State Pensions (editorial - Connecticut Law Tribune)
• Possible Budget Deal Will Add $2 Trillion to the National Debt (Eric Boehm / Reason)

July 23, 2019

• Does the California Teachers Association (CTA) Represent the Majority of Teachers’ Views? (op-ed - Brenda Lebsack / Citizens Journal)
• NEW REPORT: De-Municipalization: How Counties, States Can Administer Public Services in Distressed Cities (Stephen Eide / Manhattan Institute)
• Pensions in These 10 States Have the Biggest Funding Deficits (James Leggate / Fox Business)
• Pensions Devour Connecticut Towns; Hamden Has Unfunded Liabilities of More Than a Billion Dollars (column - Chris Powell / News-Times)

July 22, 2019

• California Tightens Rules for Going Back to Work After CalPERS Disability Retirement (column - Wes Venteicher / Sacramento Bee)
• See the 100 Highest Pensions in the CalPERS and CalSTRS Systems (column - Kanimozhi Dharuman / Sacramento Bee)

July 19, 2019

• Firefighters Are the Happiest Workers in the Nation (Richard Rider / FlashReport)
• Multiemployer Pension Bailout Bill Coming (blog - John Bury / Burypensions)
• Arizona Officer Who Killed Unarmed, Sobbing Man to Get $31,000 a Year Pension (Melissa Blasius / ABC 15)

July 18, 2019

• Congress Is Coming for Your IRA (op-ed - Philip DeMuth / Wall Street Journal)
• How Mike Pence Became a Millionaire From Government Pensions (Chase Peterson-Withorn / Forbes)
• Florida's $6 Million Man: Broward County School Superintendent Robert Runcie (Adam Andrzejewski / Forbes)

July 17, 2019

• Yuba City, California Planning Meetings on Its Unfunded Pension Liability (Appeal-Democrat)
• California State Controller Eyes CalPERS Private Prison Divestment (Randy Diamond / Chief Investment Officer)
• With Prudent, Diligent Efforts, CalPERS Can Meet Its Obligations to Retirees (Lisa Middleton / Desert Sun)

July 16, 2019

• SoCal Cities Are Spending Big Instead of Preparing for Next Economic Downturn (op-ed - Alix Ollivier / Orange County Register)
• New Santa Clara Fire Chief Brings 33 Years of Experience to the Job, But His Hefty Paycheck Plus Pension Is Raising Eyebrows (Erin Woo / Mercury News)
• Top Women to CalPERS Board Candidate: Drop Out, We Don’t Want an Accused Harasser (Marcos Bretón / Sacramento Bee)
• Good Returns Move State Pensions' Funded Status Higher in Q2 (Rebecca Moore / Plan Sponsor)
• Puerto Rico’s Bankruptcy Plan Is Almost Done, and It Could Start a Fight (Mary Williams Walsh / New York Times)
• Congress Moves to Put Pension Benefit Guaranty Corporation on Taxpayer Dole (Alex Pollock / Real Clear Markets)
• US Senate Split Over Retirement Savings Bill (Jessica Floyd / KATU 2)

July 15, 2019

• San Bernardino Deficits Grow After Bankruptcy (blog - Ed Mendel / Calpensions)
• Despite Booming Revenues, California Struggles With Debts (editorial - Orange County Register)
• Unraveling the Mystery Behind One LADWP Worker’s $313,865 in Overtime Pay (Teri Sforza / Orange County Register)

July 12, 2019

• Public Servants or the Public’s Masters? (Steven Greenhut / The American Spectator)
• Economic Recovery Has Not Reduced Pension Debt for Many States (Greg Mennis & David Draine / Pew Charitable Trusts)
• Simi Valley Considering Risky Pension Obligation Bonds to Refinance Much of Its $147 Million CalPERS Debt (Mike Harris / Ventura County Star)
• House Committee Advances Bill to Establish Union Pension Lifeline/Bailout Program ( John Manganaro / Plan Sponsor)
• CalPERS Reports Annual Return of 6.7% for Fiscal 2019 (Arleen Jacobius / Pensions & Investments)
• CalPERS Fell Short of Its Own Goals in Fiscal 2019 (Heather Gillers / Wall Street Journal)$$

July 11, 2019

• In California, Don’t Call Them 'Public Servants,’ Call Them 'The Government Gang’ (Thomas Lifson / American Thinker)
• Ontario, California's Pension Payments to CalPERS Are Going Up (Beau Yarbrough / Inland Valley Daily Bulletin)

July 10, 2019

• Garden Grove Police Raises to Cost More Than Double What City Disclosed (Nick Gerda / Voice of OC)
• Senate Resolution Cautions Against Federal Bailout of Fiscally Irresponsible States (Rachel Greszler / Heritage Foundation)

July 9, 2019

• Chief Investment Officer of US' Largest Public Pension Fund CalPERS Has Deep Ties to Chinese Government (Nathan Su / The Epoch Times)
• Analysis: Fresh Concerns About the Financial Game of 'Musical Chairs’ Behind CalSTRS (The 74 Million)
• California Cities, Counties Spent $4 Billion on Overtime in 2018 (Teri Sforza / Orange County Register)
• Chicago Pensions Are No Longer 27% Funded -- It's Now 23% (Elizabeth Bauer / Forbes)
• Chicago Has $30 Billion Worth of Pension Debt (Heather Cherone / Block Club Chicago)
• New Michigan Road-Funding Scheme: Issue $10 Billion in Teacher Pension Debt to Free Up Cash (Chad Livengood / Crain's Detroit Business)
• Pension Liabilities May Soon Derail Massachusetts' State, Local Budgets (editorial - Eagle-Tribune)
• South Carolina's 'Broken Retirement System' Is a Ticking Time Bomb (editorial - Greenville News)

July 8, 2019

• IMF Report Highlights US Pension Shortfall (Gavin O'Toole / Public Finance International)
• READ THE REPORT: Public Wealth in the United States (International Monetary Fund)
• City of Gilroy’s Wages and Benefits for Its City Workers Rank High in California (Barry Holtzclaw / Gilroy Dispatch)
• City of Hollister’s Wages and Benefits for Its City Workers Rank High in California (Barry Holtzclaw / Hollister Free Lanc)
• Pension Reform . . . For the Children's Sake (Elizabeth Bauer / Forbes)

July 5, 2019

• California's New State Budget a Windfall for Unions (column - Dan Walters / CALmatters)
• Montclair Dips Into Reserves to Cover Growing Pension Costs in New Budget (Beau Yarbrough / Inland Valley Daily Bulletin)
• 'Wealthy' Chicago Households on the Hook for Up to $2 Million in Debt Each Under Progressive Approach to Pension Crisis (Wirepoints)
• Public Pension Supporters Reconsider Socially Responsible Investing (audio - WBUR Radio)

July 4, 2019

• What the Declaration of Independence Said and Meant (Randy Barnett / Reason)

July 3, 2019

• San Luis Obispo County Raises Management Salaries, Cuts Services (Josh Friedman / Cal Coast News)
• Yucaipa Gives City Employees a Raise, Makes Them Pay Retirement (Jennifer Iyer / Redlands Daily Facts)
• Reality Check for CalPERS (Ian Bradley / The Acorn)

July 2, 2019

• The Structural Deficit Leads to a Service Deficit/Bankruptcy and Intergenerational Theft (Jack Humphreville / CityWatch LA)
• Chicago's Crashing Police Pension Fund (video - Upstream Ideas)

July 1, 2019

• Defusing Illinois' Pension Bomb (Crain's Forum / Crain's Chicago Business)
• Illinois' Six-Figure Pensions Grow 74% Since 2015 (column - Jake Griffin / Daily Herald)
• Solano County Grand Jury Says Vacaville Retiree Benefit Package 'Not Sustainable’ (Todd R. Hansen / Daily Republic)
• San Bernardino County Grand Jury Tells Upland It’s Time to Get Serious About a Plan to Fund Pensions (Beau Yarbrough / Daily Bulletin)
• This Time CalPERS Plans for Stock Market Drop (blog - Ed Mendel / Calpensions)
• The Debates’ Biggest Losers? American Taxpayers. (column - Mark Theissen / Washington Post)

June 28, 2019

• California Lawmakers Call on Gov. Newsom to Divest State From Child Detention Profiteers (Eoin Higgins / Common Dreams)
• The Disappearing Defined Benefit Pension Plan (Chris Schmidt / CFO Magazine)
• The City of Riverside’s Reserve-Draining Profligacy (editorial - Press-Enterprise)
• The State Pension Funding Gap: 2017 (Pew Charitable Trusts)
• Fears Rise Over Poor Health of US Public Pension Funds (Financial Times)$$

June 27, 2019

• Hundreds of City, County Workers Earned More Than $500,000 Last Year in California (Teri Sforza / Orange County Register)
• Santa Monica's Budget Shrinks by 7% (Madeleine Pauker / Santa Monica Daily Press)
• University of California Pension Audits Are Underway (The Independent)
• Not All Cities Have a Pension Problem (Richard A. Ciccarone / MuniNet Guide)
• Nearly $2.5 Billion in Illinois Public Pension Payments Flow to 70,000 Out-Of-State Retirees (Vincent Caruso / Illinois Policy)
• Louisville Metro Council Approves Deep Budget Cuts to Combat Rising Pension Costs (Ryan Van Velzer / WFPL Radio)

June 26, 2019

• Eight of the Top 10 Highest Paid California Public Employees Work at One County Hospital (Matthias Gafni / San Francisco Chronicle)
• California's State Controller Publishes 2018 Payroll Data for City and County Governments (press release)
• Fee for All: Private Wealth Managers Siphon San Jose’s Pension Reform Savings (Jennifer Wadsworth / San Jose Inside)
• Illinois' Latest Pension Play Is No Guaranteed Fix (Tim Jones / Better Government Association)
• Despite Claims of a Budget Surplus, California Can’t Fund its Pensions (Alice Salles / Epoch Times)
• Kentucky’s Pension Predicament (Kyeland Jackson / WPFL Radio)
• Western Pennsylvania Teamsters Pension Fund Gets Go-Ahead to Cut Benefits (blog - John Bury / Burypensions)
• Follow @PensionTsunami on Twitter

June 25, 2019

• CEO of Huge L.A. County Pension Fund Ousted Amid Tensions and Questions (Matt Stiles / Los Angeles Times)
• Caltrans Is Paying for Top Official’s San Diego-To-Sacramento Flights, and Her Apartment (column - Wes Venteicher / Sacramento Bee)
• CalSTRS Teams Up With Pope Francis on Climate Action (Elijah Owens / Chief Investment Officer)
• 4% Pay Raise Authorized for Gov. Gavin Newsom, Lawmakers and Other Top California Officials (Sophia Bollag / Sacramento Bee)

June 24, 2019

• How to Avert a Public-Pension Crisis (Josh B. McGee / National Affairs)
• Santa Cruz County Staves Off Budget Cuts (Nicholas Ibarra / Santa Cruz Sentinel)
• PENSION PULSE: CalPERS to Leverage Up its Portfolio? (blog - Leo Kolivakis)
• CalPERS Sets Up Trust to Allow Employers to Prefund Contributions (Elijah Owens / Chief Investment Officer)
• No, Multi-Employer Pension Woes Have Not Been Fixed (Elizabeth Bauer / Forbes)

June 21, 2019

• Santa Maria Approves Dozens of New Hires as CalPERS Costs Continue to Skyrocket (Razi Syed / Santa Maria Times)
• CalPERS Officials Consider Using Leverage on Portfolio in an Economic Downturn (Arleen Jacobius / Pensions & Investments)
• Puerto Rico Oversight Board Director Defends Proposed Pension Cuts (Brian Tumulty / The Bond Buyer)$$

June 20, 2019

• CalPERS Pensions Mostly Restored for Retirees Who Sued After Losing Promised Income (column - Wes Venteicher / Sacramento Bee)
• Santa Maria Looks to Add Public Safety Jobs Amid Bleak News From CalPERS (Janene Scully / Noozhawk)
• 'Wages and Benefits' Make Up Almost 3/4 of the Fiscal Year 2019-2020 General Fund Budget (Dick Sheppard / Sanger Herald)
• GOLDEN OLDIE: How Our Public Servants Became Our Masters (Steven Greenhut / Reason)
• Five Myths About Perks of Congress (Steve Israel / The Hill)

June 19, 2019

• 'No Evident Justification' for California Prison Guard Raises in Contract, Analyst Warns (column - Wes Venteicher / Sacramento Bee)
• When a Section 115 Pension Stabilization Trust Is 'Too Good to Be True' (Jeff Chang / Best Best & Krieger)
• 650,000 X $54,144 = ? California’s Teacher Retirement System by the Numbers (Mike Antonucci / LA School Report)
• House Committee Advances Multiemployer Pension Bailout Bill (Michael Katz / Chief Investment Officer)

June 18, 2019

• California Pension Fund Faces Crisis After Shunning Guns, Tobacco (Graham Piro / Free Beacon)
• CalPERS Must Stop Transit Workers’ Pension Windfall (Daniel Borenstein / Mercury News)
• Attention, California Lawmakers: Oregon Shows Pension Reform Is Possible in a Democratic State (editorial - San Diego Union-Tribune)
• When Cities Face Hard Financial Times, Pension Liabilities Are Often the First to Go Underfunded (Evgenia Gorina / American Politics and Policy)
• Repeal of Pension Spiking Ban a Final Blow to Illinois Taxpayers (column - Dan McCaleb / The Southern)
• Pension Obligations Weigh on School Finances in New Mexico (Morgan Lee / Associated Press)

June 17, 2019

• Los Angeles Finally Discloses How Much It Actually Pays for Each Employee's Benefits (Jason Henry / Los Angeles Daily News)
• CalPERS Using More ESG in Investment Strategy (blog - Ed Mendel / Calpensions)
• Valley Reps Push for Bill to Divest California Pension Funds From the Turkish Government (Ariella Plachta / Los Angeles Daily News)
• CalPERS’ Dilemma: Save the World or Make Money? (Heather Gillers / Wall Street Journal)$$
• Redwood City Budget Balanced, But Deficit Forecast (Zachary Clark / San Mateo Daily Journal)
• UC vs. UT: Why Have Spending and Tuition Grown So Much Faster at the University of California? (John Woolfolk / Mercury News)

June 14, 2019

• Riverside County Pension Costs Could Rise by $280.5 Million by 2023 (Jeff Horseman / Press-Enterprise)
• A Silver Wave? California Braces for Elderly Boom That Could Overburden State (Mila Jasper & Phillip Reese / Sacramento Bee)
• City of Watsonville, California to Start Making Reductions Across the Board (Tony Nunez / Register-Pajaronian)
• Pension Relief, Special Education Funding Highlight California Gov. Newsom's Budget (John Fensterwald / EdSource)

June 13, 2019

• The Sad, Dying Gasps of California Pension Reform (Steven Greenhut / The American Spectator)
• The Public Agenda Should Trump the Public Sector Union Agenda (op-ed - Edward Ring / Orange County Register)
• Multiemployer Pension Bailout Bill Moves Forward in House (Ted Godbout / American Society of Pension Professionals & Actuaries)
• California’s Per Pupil Spending and Pension Reform (David Crane/ Fox & Hounds)
• University of Connecticut Faces $19.6 Million Deficit, Driven Largely by Unfunded Pensions (Shannon Larson / Hartford Courant)
• South Carolina Can No Longer Hide From Pension Obligation (op-ed - Richard Eckstrom / Berkeley Independent)

June 12, 2019

• Los Alamitos' Payments to CalPERS Are the Main Driver Towards the Budget Cliff (Shelley Henderson / Orange County Breeze)
• Helicopter Crashes on Roof of CalPERS-Owned New York Skyscraper (Jim Mustian / Enterprise-Record)

June 11, 2019

• California Pension Reform Isn’t Happening Fast Enough (editorial - Marin Independent Journal)
• Sacramento's Mayor Raises Concern That Pension Costs Will Devour Measure U Revenue (David Caraccio / Sacramento Bee)
• Oakland Facing 40% Increase in Employee Pension, Health Care Costs in Next Five Years (Jana Katsuyama / KTVU-TV)
• Unfunded Pensions Are Hurting California Students and Teachers (op-ed - Arun Ramanathan & Christopher Edley Jr. / San Francisco Chronicle)
• How Inglewood Sidestepped Voters When It Took on Millions in Debt to Cover Up a Deficit, Then Gave Raises to Executives (Jason Henry / Daily News)
• City of San Diego Flipped on Prop. B -- But It Doesn’t Change Much Yet (Scott Lewis / Voice of San Diego)
• San Luis Obispo Has $150 Million in Unfunded Pensions. Now It Has a Plan to Wipe Out That Burden (Nick Wilson / The Tribune)
• LADWP Sees Nearly 1,000% Increase in Six-Figure Overtime Payouts (Robert Fellner / Transparent California)
• California Retirees’ Pensions Restored -- at Least Partially -- After CalPERS Cuts (Wes Venteicher / Sacramento Bee)
• Yolo County Supervisors to Hold Budget Hearing Today (Anne Ternus-Bellamy / Enterprise)
• New York State's Pension Fund Shouldn't Be Captive to Politics (op-ed - Richard Brower / Buffalo News)

June 10, 2019

• Trio of Oakland City Employees Cleared Over $1.6 Million in Pay and Benefits Last Year, New Data Show (press release - Transparent California)
• Los Angeles School Tax Flunks Out; Voters Never Told About Pension and Health Care Costs (column - Dan Walters / CALmatters)
• Sonoma County Eyes $1.78 Billion Budget Balanced by Job Cuts (Guy Kovner / Press Democrat)
• San Diego Must Decide Whether to Continue Legal Fight for 2012 Pension Cuts (David Garrick / San Diego Union-Tribune)
• California, Feds Want to Narrow Retirement Gap. They Can’t Agree on How (Kathleen Pender / San Francisco Chronicle)

June 7, 2019

• What Do Public Safety Unions Stand For? (Edward Ring / California Globe)
• New Jersey Retiree Health Benefits Obligations Soar (Danielle Moran / ThinkAdvisor)
• Aging Global Population Requires a Retirement Rethink (Amanda Umpierrez / PlanSponsor)
• Ohio Teachers Pension Sued Over Eliminated COLAs (Michael Katz / Chief Investment Officer
• Fitch Casts Doubt Over Returns From Alternative Investments (Steve Randall / Wealth Professional)
• Legal Protections for Public-Sector Pension Benefits Vary Widely, Says Pew Research (Hazel Bradford / Pensions & Investments)

June 6, 2019

• LAUSD's Measure EE is D-O-A; Tax Income Would Have Gone to Cover School District's Pension Costs (audio - John and Ken Show / KFI Radio)
• The 3 Ps: Pay, Pensions and Premiums Going Up? (column - Mike Causey / Federal News Network)
• Battle Creek Commissioners Will Vote Today on Increasing Taxes to Cover Pension Costs (Kalea Hall / Battle Creek Enquirer)
• Why a Decade of Bull Markets Hasn’t Fixed Pension Funding (Julie Segal / Institutional Investor)
• Hidden in the Legislate-A-Thon, Illinois Restores Pension Spiking (Elizabeth Bauer / Forbes)

June 5, 2019

• Increased Pensions Devour Most of City's Property Tax Jump (Dennis Wyatt / Manteca Bulletin)
• CalSTRS's Plan to Reduce Fees (blog - Leo Kolivakis / Pension Pulse)
• Rhode Island High Court Strikes Down Challenge to City of Cranston's Pension Cuts (Kate Mulvaney / Providence Journal)
• Society of Actuaries Releases Preliminary Update to Longevity Tables; Data Reveals Trend to Monitor (Nick Thornton / BenefitsPro)

June 4, 2019

• Week Three: New Haven Unified Strike (David Crane / Medium.com)
• Sacramento City Schools Could Save Millions on Teachers’ Health Care. Will Union Play Ball? (Michael Finch II & Sawsan Morrar / Sacramento Bee)
• Oregon Governor to Get Pension Reform Bill Following Close Vote (Sarah Zimmerman / Associated Press)
• Pilots Who Flew for Air America in Vietnam Fight for Pensions (Greg Myre / NPR)

June 3, 2019

• $5.2 Trillion of Government Pension Debt Threatens to Overwhelm State Budgets, Taxpayers (Chuck DeVore / Forbes)
• PensionTracker Website Now Has 2017 Data for More Than 1,200 California Cities, Agencies (Stanford Institute for Economic Policy Research)
• California's New State-Run IRA for Private Sector Employees Opens July 1 (blog - Ed Mendel / Calpensions)
• Santa Monica Budget Trims 17.3 Million in City Spending (Madeleine Pauker / Santa Monica Daily Press)
• Belmont, California's Budget Prioritizes Improvements and Pensions (Zachary Clark / San Mateo Daily Journal)
• Battling Pension Requirements, City of Henderson, Nevada Eyes Tax Hikes (Douglas White / Henderson Gleaner)
• New Book Presents Solutions for Financially Insolvent Entitlement Programs (Jay Lehr / Heartland Institute)
• Bond Titan Spurns Illinois Rally Over 'Pension Beasts’ (Romy Varghese / Bloomberg)
• The Only 2 States That Can't Afford a Recession: Illinois and New Jersey (Liz Farmer / Governing)
• Nashville Union Musicians Put on Notice: Pensions Could Soon Be Slashed (Nate Rau / Nashville Tennessean)

May 31, 2019

• All Quiet in Sacramento (David G. Crane / Medium.com)
• Districts in 22 States Still Haven't Recovered From Recession, Study Finds (Daarel Burnette II / Education Week)
• City of San Diego Could Seek to Invalidate Landmark Pension Reform (Jonathan Horn / ABC 10)
• Pension Costs Still Eating at Yolo County's 2019-20 Budget ( Woodland Daily Democrat)
• 50-State Survey: Legal Protections for State Pension and Retiree Health Benefits (Pew Charitable Trusts)
• Pension Watchdogs Warn San Diego's Prop B Reforms Could Be Scuttled (Sasha Foo / KUSI-TV)
• Agreement to Limit Puerto Rico Worker Pension Cuts Nears (Eva Lloréns Vélez / Caribbean Business)

Categorized News | Full News Archives