The general assumption for retirement security is a job in the public sector. The trade-off means lower pay, however. Meanwhile, the private sector has strayed from pension promises, but is…
By CALmatters | Feb. 8, 2017
How are cities across California responding to the ballooning cost of pensions in the state? CALmatters Reporter Judy Lin explores a case study in Richmond where priority police and library…
Many cities across California face rising costs for public employee retirement benefits. And for some, that’s laying bare a stark reality — it’s getting tougher to provide basic services and…
By Judy Lin | Feb. 6, 2017
Generous retirement benefits for public safety employees could help push the Bay Area city of Richmond into bankruptcy
The mayor of El Monte, a cash-strapped San Gabriel Valley city with many retired employees drawing two pensions, says there’s "no rational justification" for the double pensions.
One in four El Monte residents lives in poverty. Yet taxpayers pay a steep price to fund bonus pensions and other perks for city workers.
By CALmatters | Dec. 29, 2016
Cities and states across the country are facing public employee pension debt that is challenging and, in some cases, crippling their budgets. But some municipalities are experimenting with ways to…
Pension costs for state and local government will begin to rise in 2017 after CalPERS officials voted to throttle back the expectations on profits earned from its $299 billion portfolio.
By CALmatters | Nov. 28, 2016
California faces a $240 billion unfunded pension liability. But retired state workers who receive pensions say they are tired of drawing public blame.