Next CalPERS Victim—Simi Valley, My Hometown

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By Stephen Frank, Exclusive to the California Political News and Views

In April the people of Simi Valley were told we had a Triple AAA rating and our finances were never better.  Now the cops can not get a pay raise for four years and the city has created a Commission to decide on what cuts in government have to be made.  Why?  Simi has run out of reserves and just received a 19% increase from CalPERS—and notified that over five years it will be a 100% increase.

““I want to commend the POA for stepping up and understanding that we’re in tough times right now . . . with money being taken from us that we would normally have,” Mayor Bob Huber said at the Aug. 7 City Council meeting, referring to the growing pension crisis the city faces in coming years.

Simi Valley’s annual payments into the California Public Employees’ Retirement System, or CalPERS, the state employees’ pension fund, is expected to double from $11 million in 2017-18 to about $22 million in 2022-23.”

If the hometown of the Reagan Library is in such terrible trouble—how about your town?

Related article: Officers forgo pay hikes for four years

Stephen Frank: Is the the publisher and editor of the California Political News and Views.  Mr. Frank speaks all over California and appears as a guest on several radio shows each week. He has also served as a guest host on radio talk shows and is a full time political consultant. http://capoliticalnews.com/

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