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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 July 16 12:15pm PST

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

July 16, 2019

• As of 5:15 AM (Pacific) . . .
• 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)

May 30, 2019

• The Public Pension Crisis Is an Especially Big Threat to Women (op-ed - Jen Sidorova / Pasadena Star-News)
• A New Front in Battle Over Gig Workers (Dan Walters / CALmatters)

May 29, 2019

• California Moves to Divest From Turkey Over Armenian Genocide Despite Pension Fund Objections (column - Wes Venteicher / Sacramento Bee)
• A Million People Could Lose Their Pensions if Congress Doesn’t Act (Dave Jamieson / HuffPost)
• Oregon Senate OKs Cut to Public Employee Benefits (Sarah Zimmerman / Lewiston Tribune)

May 28, 2019

• Prison to Pension: Should Convicted Massachusetts Police Chief Keep $1 Million in Benefits? (Ryan Kath / NBC Boston)
• Maintaining a Healthy Public Pension System in Maine (editorial - The Ellsworth American)
• 'Fungibility' Means There’s No Free Lunch in California (Dan Walters / CALmatters)
• California's Retired Public Employees Are Facing Another Hot Election Over Who Manages Their Pensions (column - Wes Venteicher / Sacramento Bee)

May 24, 2019

• Moody's: Illinois Would Be Vulnerable in Recession; Report Cites Pension Woes, Low Reserves (Grant Morgan / Capitol News Illinois)
• Bethlehem, Pennsylvania's Pension Fund Is Healthy But Unsustainable, City Administrator Says (Bryan Hay / WFMZ-TV)
• Oregon Senate Passes Pension Reforms in 'Hardest Vote of Our Lives’ (Ted Sickinger / The Oregonian)
• Turkish Divestment Bill Passes California Assembly (PanArmenian.net)
• Former PBGC Director Charles Millard's Pension Proposals (podcast - Chief Investment Officer)
• South Pasadena's Labor Talks, Pension Costs Place Fiscal Plan in Deficit Flux (Steve Whitmore / South Pasadena Review)
• CalPERS Liability Exploding for South Pasadena (letter - South Pasadena Review)

May 23, 2019

• Oakland City Council Urges Audit of the Alameda County Sheriff; Budget Ballooning Due to Pay and Pensions (Lisa Fernandez / KTVU)
• Be a Faithful Fiduciary -- Keep Politics Out of Your Decisions When Investing Other People's Money (op-ed - Ken Blackwell / Washington Examiner)
• New Orleans Misused Millions in School Tax Dollars to Fund Pensions, Lawsuit Says (Wilborn P. Nobles III / Times-Picayune)

May 22, 2019

• LAUSD Looks for Lifeline in Measure EE as It Drowns in Debt From Employee Benefits (Jason Henry / Los Angeles Daily News)
• Unfunded Pensions & Potential Disaster -- An Interview With Brian Reynolds (video - Tyler Neville / Real Vision Finance)
• How Oregon State Pension Mismanagement Led to $26 Billion Underfunding (Edward Siedle / Forbes)
• New Jersey Pension Overhaul Proposal Faces Strong Opponents (Andrew Coen / The Bond Buyer)

May 21, 2019

• What Are Oxnard's Options to Lower Pension Costs? (Wendy Leung / Ventura County Star)
• California State Controller Updates State's Retiree Health Care Liability; Now Only $85.59 Billion (press release)
• READ THE REPORT: State of California Retiree Health Benefits Program GASB Nos. 74 and 75 Actuarial Valuation Report as of June 30, 2018 (pdf)
• Government Has Killed the Fatted Calf (column - John Derby / Merced County Times)
• New Jersey Legislators Propose Hybrid Pension System (Robert Steyer / Pensions & Investments)
• New York Pension Fund Report Doesn't Tell the Real Story; Investment Gains Fell Short (column - Greg David / Crain's New York Business)
• Connecticut Police Department Reverses Course, Switches Back to Defined Benefit Plan (James Comtois / Pensions & Investments)

May 20, 2019

• The Coming Pension Crisis Is So Big That It's a Problem for Everyone (John Mauldin / Forbes)
• Simi Valley City Council Looking at Options to Lower Pension Costs (Melissa Simon / The Acorn)
• Former City Manager and His Children Sue Redlands for Lifetime Medical Benefits (Jennifer Iyer / Redlands Daily Facts)
• A Place With Free Growth Where Everyone Is Rich (column - Rodney Johnson / Equities)
• Pension Debts Crowding Out Better School Investments (editorial - The Advocate)
• Santa Rosa to Consider Cutting Dozens of Vacant Jobs as It Wrestles With Growing Deficit (Will Schmitt / Press Democrat)
• Ventura City Council to Resume Budget Talks (Arlene Martinez / Ventura County Star)

May 17, 2019

• Pensions or Your Neighborhoods? Sacramento City Hall Fights Over How to Spend $40 Million (Theresa Clift / Sacramento Bee)
• CalSTRS Stresses the 'Importance of Acting Quickly’ to Maintain Funding Progress (Chief Investment Officer)
• Chicago Says Illinois Comptroller Wrongly Intercepting Millions in State Grant Dollars Over Pensions (Jonathan Bilyk / Cook County Record)
• Congress Urged to Act Soon on Union Pension Funding Crisis (John Manganaro / PlanSponsor)

May 16, 2019

• Lompoc Grapples With Long-Term Solutions to Its Budget Shortfalls, Burgeoning Pension Debt (Zac Ezzone / Santa Maria Sun)
• Pension Costs Have Overwhelmed School-District Budgets, Even After Years of Record Earnings by CalSTRS (editorial - Orange County Register)
• West Point Strips Decorated Army Major of His Pension for Joining Cannabis Company (Lynn Shapiro / American Legal News)

May 15, 2019

• Financial Advisers Can Help State and Local Government Workers Understand Their Imperiled Pensions (Edward Siedle / Forbes)
• Public Pension Funds Falling Short of Needed Returns This Year (Martin Z Braun / Bloomberg)
• CalPERS Health Insurance Rates Could Climb as Much as 24% Next Year (column - Wes Venteicher / Sacramento Bee)
• Lawsuit by Retired California Judges Alleges Age Discrimination in State Court Overhaul (Julie Johnson / Press Democrat)
• Marin Pension System Should Move to Defined Contribution Plan (letter - Marin Independent Journal)

May 14, 2019

• Challenging the Status Quo in Ventura (op-ed - Jim Friedman / Ventura County Star)
• California’s Education Funding Is at a Record High. So Why Are Schools Short on Cash? (John Myers / Los Angeles Times)
• Public-Sector Unions: The Other Deep State (Edward Ring / American Greatness)
• Oregon Democrats Propose Pension Reform Amid Republican Walkout (Sarah Zimmerman / Register-Guard)
• Nearly 100,000 Coal Miners at Risk of Losing Pension Money by 2022 (Jessica Wehrman , Dayton Daily News)

May 13, 2019

• Governor Boosts California's School Pension Cost Relief Plan (blog - Ed Mendel / Calpensions)
• Tax Measures Revisited Amid New Budget Shortfalls (editorial - Santa Cruz Sentinel)
• In Oakland, Money Intended to Be Used for This Being Used for That So Lights Stay on (Phil Matier / San Francisco Chronicle)

May 10, 2019

• CalSTRS Releases Valuation for 2018 (press release - California State Teachers’ Retirement System)
• Teacher Pensions: A Big Problem for Many States (blog - Mary Pat Campbell / STUMP)
• California Supreme Court Upholds Pension Reforms, But Problems Remain (Joe Barnett / Heartland Institute)
• Illinois Officials Put Great Effort Into Conning Public on Pensions (column - Jim Dey / News-Gazette)
• Arizona's State Pension Fund Delivered Subpar Returns. Then It Gave Executives an Extra $120,000 (Craig Harris & Anne Ryman / Arizona Republic)
• Is There Really a Retirement Crisis? (Christine Benz interviews Aron Szapiro / Morningstar)
• Rhode Island: St. Joseph’s Failed Pension Fund Pushed Into Federal Control; Controversial Move Is Unprecedented (GoLocalProv)
• Another Union Pension Plan Approved for Benefit Cuts (blog - John Bury / Burypensions)
• Sanders Promises to Block Cuts to Pension Benefits if Elected (Max Greenwood / The Hill)

May 9, 2019

• 35 El Dorado County Retirees Now Raking in Six Figure Pensions; County's Unfunded Obligation to CalPERS Is $346 Million (Village Life)
• Citizen Reformers Set to Transform Oxnard’s Politics (Edward Ring / FlashReport)
• Pensions Have Tripled Their Investment in High-Risk Assets. Is It Paying Off? (Liz Farmer / Governing)
• Pension Fund Returns Show Risk Doesn’t Always Equal Reward -- Fitch (Rob Kozlowski / Pensions & Investments)

May 8, 2019

• You May Be on the Hook for Public Pensions if CalPERS Goes Down (Tim Lantz / KFBK Radio)
• Riverside County Supervisors Tap Reserves for $22 Million Shortfall; County Has $300 Million in Unfunded Pension Liabilities(Sam Metz / Desert Sun)
• As Public Pensions Pile on More Risk, Returns Fail to Keep Pace (Martin Z Braun / Bloomberg)
• Higher Risk Not Translating to Similar Returns for US Pensions (press release - Fitch Ratings)
• READ THE REPORT: US State and Local Pension Investments -- Concerns Grow With Riskier Allocations, Lower Returns (Fitch Ratings)

May 7, 2019

• Marin Municipal Water District's Pensions Illustrate Larger Problem Taxpayers Face (op-ed - Bob Bunnell / Marin Independent Journal)
• Santa Monica to Go Into the Red Over the Next Decade as It Pays Off $448 Million in Underfunded Pensions (Cailley Chella / Santa Monica Mirror)
• Novato Fire Board Approves Parcel Tax Increase (Will Houston / Marin Independent Journal)
• Warren Buffett Warns Movers to Avoid States With Large Unfunded Pension Liabilities (Anil Niraula / Catalyst)
• Resolution on Feds' Retirement Benefit Laws Passes California Senate (press release - State Senator Scott Wilk)
• Illinois State Pension Hole Hits Record $133.5 Billion (column - Greg Hinz / Crain's Chicago Business)
• Bill Would Let Retired Municipal Police Collect Pensions While Double-Dipping as School Security Personnel (column - Jon Lender / Hartford Courant)

May 6, 2019

• California Pension Costs Keep on Climbing (editorial - Press Democrat)
• Reforming Brazil's Pensions Is an Urgent Priority, Because They Account for 50% of Its Federal Budget (Ryan Berg / National Interest)

May 5, 2019

• Alarming Data Shows California's Public Employee Pension Crisis Worsening (editorial - Santa Cruz Sentinel)

May 4, 2019

• Whittier’s Budget Giving Off Serious Déjà Vu With $3 Million Deficit Caused by Rising Pension Costs (Mike Sprague / Whittier Daily News)
• California’s Pension Debt Is Harming Teachers and Students Now -- and It’s Going to Get Worse (Cory Koedel / Brookings Institution) )

May 3, 2019

• City of Oakland's Unfunded Pension and Medical Retiree Liabilities Total More Than $2.7 Billion (Rockridge Patch)
• California Pension Costs Creating State-Wide Fiscal Crisis (George Lasse / Culver City Observer)
• High Prescription Drug Prices Hit California's Pension Plans, Hurt State and Local Taxpayers (op-ed - Marc Joffe / Orange County Register)
• San Luis Obispo City Retirees Receive Average Pension of $90,000 a Year (Josh Friedman / Cal Coast News)
• Alvord Unified School District Cuts 66 Employees So It Can Pay Next Year’s Bills (Ryan Hagen / Press-Enterprise)

May 2, 2019

• City of Oxnard Pension Contributions Set to Double by 2024 (Edward Ring / California Policy Center)
• Could All Measure U Funds Go to Pensions? 'That’s Just Not Accurate,’ City Manager Says (Theresa Clift / Sacramento Bee)
• Federal Lending to Insolvent Pension Plans Is Code for Bailout (Alex Pollock / Real Clear Markets)

May 1, 2019

• Sacramento Mayor Promised Tax Money for Your Neighborhood. Now Leaders Want Millions for Pensions (Theresa Clift / Sacramento Bee)
• Palm Springs Councilwoman Appointed to CalPERS Board of Administration (MyNewsLA.com)
• Rhode Island's Locally Run Pension Plans Have $2.5 Billion in Unfunded Liabilities, Says State Treasurer (Katherine Gregg / Providence Journal)

April 30, 2019

• Berkeley, California Prioritizes Employee Pensions Over Capital Improvements (editorial - Berkeleyside)
• Encinitas, California's $100,000 Pension Club Membership Rises to 25 (Encinitas Undercover)

April 29, 2019

• California's Rising School Pension Costs Cut Programs and Pay (blog - Ed Mendel / Calpensions)
• Congress's Public Policy Problem From Hell (editorial - Washington Post)

April 28, 2019

• China’s State Pension Fund Could Run Out of Funds by 2035 (Michael Katz / Chief Investment Officer)
• China's Pension Crisis (Chriss Street / American Thinker)

April 27, 2019

• San Bernardino Departments Told to Cut 7% From Budgets (Brian Whitehead / San Bernardino Sun)
• With $10 Million Shortfall, Oxnard Prepares Employees for Upcoming Layoffs (Wendy Leung / Ventura County Star)
• Social Security Costs Are Projected to Surpass Income Next Year, Report Says (Brian Croce / Pensions & Investments)
• Report: Absent Reform, Retirement Benefits Will Eat Over Half of Illinois’ Taxes (Adam Schuster / Illinois Policy)

April 26, 2019

• School Spending Popular, Taxes Not So Much (Dan Walters / CALmatters)
• City, County Must Still Pay $618,000 in Pension Obligations for Ex-TCEDA Employees (Alex MacLean / Union Democrat)
• Morgan Stanley Pays California Pension Funds $130 Million Over Charges It Misled CalPERS, CalSTRS (column - Wes Venteicher / Sacramento Bee)

April 25, 2019

• California's 6-Figure Pension Club Has Doubled in Size Since 2012 (Eric Boehm / Reason)
• Pending Financial Shortfalls Trigger Job Cuts at City Hall (Madeleine Pauker / Santa Monica Daily Press)
• Retirees Living Longer Expected to Add to Pension Costs (Bruce Schreiner / Associated Press)
• Illinois Group Wants Consolidation of 650-Plus Downstate Public Pension Funds (Chris Butera / Chief Investment Officer)

April 24, 2019

• Sacramento Politicians Play Santa Claus While California's Pension Problem Gets Worse (editorial - Pasadena Star-News)
• Santa Monica Should Immediately Boost Annual Pension Payments, Top Finance Official Recommends (Jorge Casuso / Santa Monica Lookout)
• Bernie Sanders Draws a Mayoral Pension — His Campaign Co-Chair Rep. Ro Khanna Once Blasted Such 'Double-Dipping’ (Dan Mangan / CNBC)

April 23, 2019

• CalPERS $100,000 Pension Club Has More Than Doubled Since 2012, New Data Show (Transparent California)
• Why Vermont's Pension Pressures Mean Other Projects Won't Get Funded (Jane Lindholm & Matthew F. Smith / Vermont Public Radio)

April 22, 2019

• US Fed Should Buy Municipal Bonds to Fight the Next Recession (Brian Chappatta / Bloomberg)
• MBTA Pensions on Fast Track to Hack Heaven (column - Howie Carr / Boston Herald)

April 21, 2019

• San Diego's Great Pension Dilemma of 2019 (podcast - Voice of San Diego)
• An Open Letter to California’s Senate Education Committee (David Crane / Medium.com)
• Here's What a State Takeover Would Mean at Sacramento City Unified School District (video - Sacramento Bee)

April 20, 2019

• The Tax Watchers: How Do We Get Out of Our Pension Hole? (John Takeuchi / Daily Republic)
• Pain in the 21st Century to Fix Problems From 20th (editorial - East Oregonian)

April 19, 2019

• Today's Headlines as of 7:15 AM (PT) . . .
• Palo Alto Considering Millions of Dollars in Raises to SEIU Workers (Allison Levitsky / Palo Alto Daily Post)
• Palo Alto Teachers Are in Line for a Raise and a Bonus (Allison Levitsky / Palo Alto Daily Post)
• New Website Tracks $1.5 Billion in Public Union Political Spending (LaborPains.org)

April 18, 2019

• Today's Headlines as of 6:55 AM (PT) . . .
• The Fine Art of Kicking the Pension Can Down the Road (Mitchell I. Serota / Wirepoints)
• Vallejo Police Chief Backs Away From Plan to Retire and Serve in Interim Role (Sarah Ravani / San Francisco Chronicle)
• One in Three MBTA Retirees Last Year Was Under 55, Putting Another Strain on Its Pension Fund (Matt Stout / Boston Globe)

April 17, 2019

• Today's Headlines as of 7:15 AM (PT) . . .
• CalPERS Bill for California State Worker Pensions Set to Reach $7 Billion Next Year (column - Wes Venteicher / Sacramento Bee)
• No, California's Finances Are Not Back in the Black (Patrick Gleason / Forbes)

April 16, 2019

• Today's Headlines as of 7:35 AM (PT) . . .
• Here’s How Much Public Pensions Are in the Hole by Per Resident (Michelle Jones / ValueWalk)
• New Report Claims State Pensions Are in Worst Shape (Gary St. Fleur / ValueWalk)
• What Maryland Can Learn From Michigan’s Successful Public Pension Reform (James Hohman & Carol Park / Washington Post)

April 15, 2019

• Today's Headlines as of 6:20 AM (PT) . . .
• How a CalPERS-Sponsored Bill Increased Pensions (blog - Ed Mendel / Calpensions)
• Divestiture Politics Roils California Pensions, Investments (Christine Shingleton / Capitol Weekly)

April 14, 2019

• Infrastructure or Pensions? States Only Choosing One (Peter Reagan / Newsmax)

April 13, 2019

• 15 US Cities Facing Financial Distress (Brittney Mayer / BadCredit.org)
• Happy Birthday, Thomas Jefferson!

April 12, 2019

• Today's Headlines as of 5:10 AM (PT) . . .
• Vallejo Police Chief Will Get a Pension Worth About $19,000 a Month. But Wait, There’s More ... (Otis R. Taylor Jr / San Francisco Chronicle)
• NEW WORKING PAPER: The Growth of Public Employees' Salaries and Benefits, 1998-2017 (andrew G. Biggs / American Enterprise Institute)
• READ THE PAPER: The Growth of Public Employees' Salaries and Benefits, 1998-2017 (pdf - Andrew G. Biggs / American Enterprise Institute)
• Analysis of the AEI Working Paper on Public Employee Salary and Benefits Growth (blog - John Bury / Burypensions)
• 10-Year Equity Rally Isn’t Enough to Raise Public Plans’ Funded Status (Arleen Jacobius / Pensions & Investments)
• Others Notice That a Long Bull Market Hasn't Improved Public Pension Fundedness (blog - Mary Pat Campbell / STUMP)
• How About 'Let the People Vote' -- on Pensions, Term Limits and Remap? (editorial - Chicago Tribune)
• China Pension System Set to Dry Up by 2035, Think Tank Says (Bloomberg News)

April 11, 2019

• Today's Headlines as of 5:10 AM (PT) . . .
• Why the Longest Bull Market Has Failed to Fix the Nation's Public Pension Funds (Heather Gillers / Wall Street Journal)$$
• CalPERS Investment Committee Rejects Tobacco Reinvestment Again (Randy Diamond / Chief Investment Officer)
• Pension Bridge: 3 State Pension Plans Bare All on Funding Messes (Chris Butera / Chief Investment Officer)

April 10, 2019

• Today's Headlines as of 6:20 AM (PT) . . .
• Growing US Public Pension Crisis an 'Existential Financial Threat' (Emel Akan / The Epoch Times)
• Senators Propose Bill Establishing Employer Contributions to Worker Savings Accounts (Brian Croce / Pensions & Investments)
• Sens Klobuchar, Coons Introduce Retirement Savings Improvement Act ( Brainerd Dispatch)
• Tempers Fray, Tensions Rise Over Brazil’s Pension Reforms (Paulo Trevisani & Samantha Pearson / Wall Street Journal)

April 9, 2019

• Today's Headlines as of 5:00 AM (PT) . . .
• Novato’s Pension Trust Is a Good Step, But More Needs to Be Done (editorial - Marin Independent Journal)
• The Pentagon's Accounting Problem (blog - Christopher A. Preble / Cato Institute)

April 8, 2019

• Today's Headlines as of 6:15 AM (PT) . . .
• Will CalPERS Board Shake-Up Continue This Year? (blog - Ed Mendel / Calpensions)
• CalSTRS Pension Proposals (pdf - California Legislative Analyst's Office)

April 5, 2019

• Today's Headlines as of 7:30 AM (PT) . . .
• The California Rule Will Lead to the Golden State's Unruly Demise if Not Overturned (Joe Mathews / Desert Sun)
• School and Pension Costs in California: What Can Be Done? (video - EdSource)
• California's School Pension Crisis: Who Pays and What Could Be Done? (webinar - EdSource)
• States Need to Spend on Infrastructure. Pension Shortfalls Are Getting in the Way. (Randall W. Forsyth / Barron's)$$
• Miners and Retirees from West Virginia, Ohio, Kentucky, and Virginia Learn About Legislation to Save Pensions (WSAZ-TV)

April 4, 2019

• Today's Headlines as of 6:30 AM (PT) . . .
• Credit Rating Agencies Concerned About California Pension Costs (Chris Reed / Fox & Hounds)
• Why Is San Diego's Pension Settlement Estimate So Much Money? (Edward Ring / Flash Report)
• A Crackdown on Misuse of Taxpayer Money? (Dan Walters / CALmatters)
• What Cities' Revenue-Raising Methods Say About Their Pension Funding (Mike Maciag / Governing)

April 3, 2019

• Today's Headlines as of 8:00 AM (PT) . . .
• Bugs in California’s K-12 System (David Crane / Medium.com)
• Rising Pensions Costs Are Crippling Nevada's School Districts (editorial - Las Vegas Review-Journal)
• BMW Freezes Pension Plans for US Employees; Shifts to 401(k)-Style Plans for All (Anna B. Mitchell / Greenville News)

April 2, 2019

• Dealing With Family Medical Issues Again Today . . .

April 1, 2019

• Today's Headlines as of 7:30 am (PT) . . .
• Another Court’s Pension Punt Hurts Reform Prospects and Voting Rights (editorial - Orange County Register)
• State Pension Unfunded Liabilities Nearly $6 Trillion (Michael Katz / Chief Investment Officer)
• Novato Creates Trust Fund to Ease Pension Jam (Will Houston / Marin Independent Journal)
• Today's Headlines as of 1:00 am (PT) . . .
• Reforms Are Crucial for California's Public Pension System to Be Sustainable (op-ed - Bob Bunnell / Marin Independent Journal)
• California Cities Struggle to Cut Retirement Health Care Costs (blog - Ed Mendel / Calpensions)
• Beware the Coming Tax Grab by Politicians (editorial - Santa Cruz Sentinel)
• Modern Markets & US Pension Funds Having a Gallipoli Moment (Lee Adler / Sure Money Investor)
• No Kidding: Four Orange County Cities Boost Sales Taxes on April Fools’ Day (Susan Christian Goulding / Orange County Register)
• A Lesson in Fiduciary Responsibility for Jamie Dimon (Christopher Burnham / Forbes)
• Are US Pensions Funding Human Rights Violations and Cyber Espionage? (Fan Yu / The Epoch Times)
• GOLDEN OLDIE: Why Don’t Pension Funds Divest From All Arms Companies? (John Seiler / CalWatchdog)
• BLOG: STUMP by Mary Pat Campbell
• BLOG: Burypensions by John Bury
• BLOG: Pension Pulse by Leo Kolivakis

March 31, 2019

• How Public Pensions Could Trigger the Next Financial Crisis (Michelle Jones / ValueWalk)
• Bring Pensions Back: San Diego Mayoral Rivals All Aboard (Scott Lewis & Andrew Keatts / Voice of San Diego)

March 29, 2019

• State Pensions Plans Are in Bad Shape But Reforms Can Help (Adam Millsap / Forbes)
• Riverside County and Union Agree to Compromise, Reduce Size of Wage Increases (Sam Metz / Palm Springs Desert Sun)
• Filling California's Big Public Pension Holes (Chase Difeliciantonio / North Bay Business Journal)
• Californians Worry About Public Pensions, But Not as Much as They Used to (column - Wes Venteicher / Sacramento Bee)

March 28, 2019

• Appeals Court Tells San Diego to Pay Workers Who Don’t Have Pensions (David Garrick / San Diego Union-Tribune)
• School and Pension Costs in California: What Can Be Done? (video - EdSource)

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