February 21, 2018

The cost of retirement benefits for public employees from California's state state and local governments and schools and colleges has more than tripled since 2003—putting so much pressure on government budgets that many are having to choose between service cuts and raising taxes. We explain the forces at work.

A bill under consideration in the California legislature would allow local school boards to replace standardized tests given in 11th grade with a college entrance exam like the SAT or ACT.

The essence of California’s pension crisis was on display last week when the California Public Employees Retirement System made a relatively small change in its amortization policy. The CalPERS board voted to change the period for recouping future investment losses from 30 years to 20 years. The bottom line is that it will require the […]