The popular TV show Inside Edition does an expose on lifeguard compensation in Newport Beach, California:

A report from CBS Channel 13 in Sacramento on July 3:

Last Wednesday the Citrus Heights Regional Chamber of Commerce held a forum on public pension reform. It was moderated by Marcia Frtiz, president of the California Foundation for Fiscal Responsibility, and featured four knowledgeable panelists: State Senator Mimi Walters who represents California’s 33rd District; Bill Pollacek, former treasurer of Contra Costa County; Ted Costa, CEO of People’s Advocate; and Lanny Ebenstein, professor of economics at UC/Santa Barbara and president of the California Center for Public Policy which sponsored the event. More background can be found here. The video is approximately one hour:

I’m heading for Providence today, so there won’t be any headlines. But I’ll be back online as soon as possible with the latest on the public pension crisis.

– Jack Dean

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:

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

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

For text version of this story, please click here.

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)

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.