By Katy Grimes, Calwatchdog.org
Government employees’ salaries and benefits, and in particular, pensions, are financially unsustainable in California. It is clear that collective bargaining reform is needed. But in a state run by politicians elected largely with the financial support of labor and public employee unions, reform is a dirty word.
Reuters
An Illinois Senate committee on Wednesday passed a union-backed plan to reduce the state’s nearly $100 billion unfunded pension liability by an estimated $15.7 billion.
By Malia Zimmerman, Watchdog.org
Hawaii lawmakers took modest steps to address the state’s record $25-billion in unfunded liabilities during the 2012 and 2013 legislative sessions.
By Charles Chieppo, Governing.com
A New Way to Tame the Public-Pension Beast? Adjustable pension plans could help governments control both risk and their out-of-control retiree-benefit costs.
By Shannon Grove, The Bakersfield Californian
It is no secret that California has a pension problem. And it’s not going away. A 2010 study by the bipartisan Little Hoover Commission found that the top 10 public employee pension systems in California faced a combined shortfall of $240 billion, and a government watchdog organization recently estimated that California’s debt could be as high as $1.1 trillion.
sgvtribune.com From liberal Gov. Jerry Brown to conservative business groups, California leaders sound determined to
By Edward “Ted” Siedle, Forbes The Securities and Exchange Commission today finally charged the State of
