Tag: californiapensions

US Politics

CalPERS' Flicker of Fiscal Sanity: A Cautious Appraisal of Declining Pension Costs

California's public pension costs are showing a surprising and modest decline due to strong investment returns and reforms that apply less generous formulas to new hires, which offers a glimmer of fiscal sanity after years of burdensome taxpayer bailouts for the system's past failures. This is a crucial but fragile step towards restoring accountability, protecting public services, and upholding the social contract between taxpayers and the government they fund.

US Politics

The Ghost of Pensions Past: California's Reckless Gamble with Fiscal Stability

California's public employee pension system reported a 14.8% investment gain, which proponents are using to push for billions in increased pension benefits for police and firefighters, a move that risks repeating a disastrous fiscal history that previously pushed cities toward bankruptcy. It is a shocking and reckless gamble with taxpayer funds and the very solvency of our local governments, betraying the lessons of recent history for immediate political gain.

US Politics

California's Looming Pension Reckoning: When Political Gratitude Threatens Fiscal Sanity

California lawmakers are advancing three union-backed bills that would significantly increase pay and retirement benefits for police and firefighters, potentially adding hundreds of millions in annual costs and billions in long-term liabilities. This reckless expansion of unsustainable pension benefits, driven by powerful unions and bipartisan political expediency, threatens to repeat the catastrophic fiscal mistakes of the past and shackle future Californians with debt.