Politicians can’t keep ignoring pension problem

 

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By Stephen Frank,  California Political News and Views

Has the time come for the sleeping Sacramento politicians and the very confused Guv Brown to address a problem that is collapsing city government and basic services all over the State.  Will they address the issue that is forcing school districts to FIRE teachers (i.e. San Diego) or not hire teachers due to increase in CalSTRS mandatory contributions?

“Make no mistake: The retirees themselves have earned their pensions and have done nothing wrong. They were wise to take advantage of a system that rewards them. Further, most retirees don’t earn six-figure incomes after their working days have ended. A CalPERS spokeswoman said the average pension for a retiree who didn’t work in public safety is $29,088, while the average for a public safety employee is $33,528.

The six-figure pensions get all the attention. But the fact that there are so many of them is troubling. The largest CalPERS pension in the state belongs to former Solano County administrator Michael Johnson. His pension is $390,485 a year. A former Los Angeles Sanitation District general manager makes nearly $350,000 a year in retirement. It makes no sense.”

CalPERS has an unfunded liability of approximately $1.4 trillion—and growing.  CalSTRS problem is over $200 billion—growing and causing the firing of teachers.  Have you heard a peep from Sacramento?  Maybe you should ask your city council what they are doing?  Ask your State legislator what they are doing.  A statewide election is next year, demand answer from the candidates for Governor.

Related Op-Ed: Politicians can’t keep ignoring pension problem


Stephen Frank

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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One Response to Politicians can’t keep ignoring pension problem

  1. William Hicks September 1, 2017 at 1:32 pm

    OH YES THEY CAN KEEP IGNORING THE PENSION PROBLEM. Politicians from each political party are gambling that it either won’t be a problem in their lifetime or it will be the other political party that will be holding the bag.

    Self serving bastards, they are.

    Reply

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