CalPERS Numbers Tell Costly Pension Story.

Editorial, includes “… On average, local governments in California are paying 50 cents on top of every payroll dollar to cover retirement costs for public safety employees. … Two dozen jurisdictions are paying 70 cents on the payroll dollar, twice as many as last year, and that number is expected to double again next year to 50. … The state Supreme Court ducked an opportunity to evaluate the California rule in a case decided earlier this year. The justices will get another crack at the issue in a pending case. If they take another pass, the vicious cycle of rising costs for pensions and cutbacks for basic public services will continue to accelerate.”

Read the full article on: The Press-Democrat (California)

November 27, 2019

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