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Phoenix Ends Pension Spiking

Most state constitutions contain a little-used provision known as the “gift clause,” which prohibit certain public expenditures to private entities. Unfortunately, only the Goldwater Institute, located in Arizona, is effectively using the gift clause.

How the “California Rule” Holds Back Pension Reform

By Ivan Osorio, Openmarket.org

These days, local governments announcing bankruptcy seems like routine in California. Since the onset of the 2008 financial crisis, many state and local governments have seen their pension funds take huge losses. Yet, many of the underlying problems that have made pension shortfalls difficult to address go back many years — more than half a century, in fact.