Craig Eyermann | Friday June 22, 2018 at 12:00 PM PDT
Without fiscal reform, cuts to basic education programs are imminent.
Tag: public pension reform
Lawrence McQuillan | Tuesday June 21, 2016 at 11:02 AM PDT
As part of a year-long national campaign promoting my book California Dreaming: Lessons on How to Resolve America’s Public Pension Crisis, I’ve been saying that it’s impossible to have both public governance of defined-benefit public pension plans and responsible management of these plans. Politicians face strong perverse incentives to mismanage the plans for their…
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Lawrence McQuillan | Thursday October 8, 2015 at 5:57 PM PDT
The actuarial firm Cheiron recently projected the future yearly pension costs for San Jose’s police and firefighter pension plan. Cheiron wrote: In the worst scenarios, the City’s aggregate contribution rate can exceed 110 percent of payroll. In the best scenarios, the City’s Tier 1 rate can drop to 0 percent, leaving a relatively small…
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