Between a Rock and a Hard Place: California’s Pension Crisis in a Nutshell
Don’t miss the latest column by CalMatters’ Dan Walters.
Don’t miss the latest column by CalMatters’ Dan Walters.
“This is absolutely the most challenging issue facing state and local government, not just in California but across the country.”
Local administrators and financial experts continue to warn of a looming fiscal crisis for California’s municipalities, driven in large part by skyrocketing pension costs.
Plus, did Gov. Brown get the idea from Newport Beach?
The nation’s largest pension fund has turned to investments so complicated that it needs algorithms to calculate the fees.
Local governments across California are bracing for a more costly future thanks to mounting retirement obligations, and their residents are apt to experience cuts to local services on par with the 2008 recession as a result.