PensionTsunami's primary focus is on California's public employee pension crisis, but we also monitor news in other states, keep an eye on the world of corporate pensions, and follow developments in Social Security since it is taxpayers who will ultimately be responsible for making up deficits incurred by any of these retirement plans. We also try to monitor international trends. The editor of PensionTsunami.com is Jack Dean (JackDean-at-PensionTsunami-dot-com).
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By Jack Dean
It’s not quite as momentous an anniversary to celebrate as the Apollo 11 moon landing, perhaps, but today marks the fifth anniversary of the launch of this project.
First came the PensionWatch e-mail list, which I began by occasionally forwarding news items and editorials to a handful of friends in Fullerton regarding the unsustainable […]
By Jack Dean
Last night the Fullerton City Council unanimously rejected two proposed public employee labor agreements which included controversial pension boosts. After public discussion and pointed comments by council members, the council voted 5-0 to reject the agreements as recommended by the city’s negotiator. A presentation by an actuarial from CalPERS appeared to have helped […]
By Jack Dean
Two members of the Fullerton City Council have written a letter to the publisher of the Orange County Register criticizing editorial columnist Steve Greenhut for his coverage of the 25% pension formula boost that is being discussed with the city’s employees. While I don’t believe the letter has been printed yet, the fact […]
By Jack Dean
Last Tuesday night’s Fullerton City Council meeting was interesting. Register columnist Steve Greenhut had predicted that agenda Item #15 would be used to publicly lambaste councilman Shawn Nelson. I had predicted that it would probably just be a lecture on the Brown Act validating the council’s right to be secretive regarding discussions with […]
By Jack Dean
Last Thursday I asked that the 25% pension boost allegedly being discussed behind closed doors be put on the agenda for public discussion. Well, I got my wish — sort of.
The topic will be on the agenda, all right, but apparently it won’t be there for public discussion purposes. Instead, it looks […]
By Jack Dean
August is the favorite month of the year for public employee unions everywhere because voters are away on vacation or otherwise pre-occupied. And this year it’s even better for them, what with the added distraction of the Olympics being broadcast in mesmerizing HDTV over a two-week period. What better time to launch a […]
