PensionWatch

How Stockton, California gave the store away to its public employee unions and faces bankruptcy

Jack Dean — Sun, 18 Mar 2012 03:18:42 +0000

As cities across the nation increasingly become mired in financial crises due to public employee pensions and health care costs, debt and overspending, PBS correspondent Spencer Michels profiles one city making efforts to avoid bankruptcy: Stockton, California:

San Jose, California’s pension reform ballot measure featured on the CBS Evening News

Jack Dean — Fri, 09 Mar 2012 15:15:22 +0000

For the text version of this story, please click here.

Mayor of Pawtucket, Rhode Island explains pension panel

Jack Dean — Wed, 07 Mar 2012 15:25:57 +0000

To read the accompanying news story on the WPRI-TV website, please click here.

San Jose City Council votes to send pension reform measure to voters

Jack Dean — Wed, 07 Mar 2012 13:44:34 +0000

For text version of this story, please click here.

Providence mayor asks city’s retirees to take pension cuts

Jack Dean — Sun, 04 Mar 2012 13:10:32 +0000

Providence Mayor Angel Taveras made a direct pitch yesterday to more than 800 city retirees to accept reduced pensions and less generous health care coverage to help the city avoid a bankruptcy filing:

Mayor: Smaller pensions will save Providence (WPRI-TV)

CalPERS’ sophomoric economic study can’t hide debts, losses and costs

Jack Dean — Wed, 13 Jul 2011 20:01:53 +0000

By Daniel Pellissier

In a transparent attempt to divert attention from billion-dollar losses and unfunded liabilities that will last two generations, CalPERS released its own study of the fund’s economic impact trying to take credit for $26 billion in economic activity generated by its generous retirement benefits. Of course, the economic impact would be the same if General Motors, Boeing or IBM had made those same retirement payments out of a $230 billion fund, so there is no credit to be earned for merely sending out checks.

The CalPERS-sponsored study does not detail how most of the money they hand out comes from taxpayers. Across California, public employee contributions to pension costs range from nothing, up to 35%, making most of the money in the fund returns on taxpayer contributions. In addition, CalPERS is charging its member agencies higher costs to make up for severe market losses in 2008 that will take two generations of higher taxes to repay.

So while CalPERS tries to convince Californians that they are helping the economy, their increasing demands for tax dollars is draining the economy — taking money needed to fund our schools and build our roads — and giving it to 55-year-old retirees. That’s nothing to be proud about.

Daniel Pellissier is president of California Pension Reform.

California’s pension battle gets ugly

Jack Dean — Mon, 23 May 2011 18:27:17 +0000

By John Schwada / Fox News LA

California’s Pension Battle Gets Ugly: MyFoxLA.com

To read the accompanying news story, click here.

Behold! Your Public Sector Unions at Work, And How They Got Their Lavish Pensions

Jack Dean — Fri, 13 May 2011 14:29:15 +0000

Everywhere you turn these days, your public sector unions are hard at work, protesting cutbacks to public sector unions. Andrew Klavan of City Journal exposes the charming charm of your unionized civil servants:

Prichard, Alabama’s pension crisis offers dire preview of what’s to come nationwide

Jack Dean — Mon, 03 Jan 2011 15:53:55 +0000

Will this Alabama town’s bankrupt pension fund have nationwide consequences? The state’s governor, Bob Riley, comments on Fox News:

2011 Spells Trouble for Medicare

Jack Dean — Sat, 01 Jan 2011 16:50:28 +0000