Economy

A case before the state Supreme Court could clear the way for reductions in public retiree benefits, which have become hugely expensive. But the outcome is “hard to predict.”

Capital Public Radio continues its series with the LA Times and CALmatters on our state’s pension crisis but this time, comparing it to the dire state of affairs in Illinois.

As California’s public-employee pension crisis grows—with taxpayers on the hook for hundreds of billions of dollars, and no clear plan for how to pay—other states are facing similar problems, and have lessons to teach.

Gov. Pete Wilson tried to wrest key powers from the CalPERS board. A labor-led counterattack left the board more independent than ever.

What is CalPERS? | Where does the money come from? | How much do employees contribute toward their pensions?

When California lawmakers cut a deal to increase public employee pensions, the state had a very different economic climate. We’ll talk with LA Times reporter Jack Dolan about the pension gap and what he’s learned about it.

To figure out how California got in this situation, it’s helpful to rewind the clock to the late 1990s, back to the days of the dot-com bubble. That’s when the state and local governments chose to make pension benefits a lot more generous. It’s a decision that turned out to have lasting implications.

We are excited to launch a new project about California’s pension debt crisis that is a collaboration between CALmatters, the Los Angeles Times and Capital Public Radio.    In print, online and over the airwaves, this series will explore the consequences of a historic expansion of retirement benefits for California public employees. A series of […]