Median earnings for Inglewood residents was around $30,000 last year. Those same residents are required to pay for a police chief’s $524,000 pay package, which includes an ongoing, $61,000 annual bonus for […]
Why is the media treating CalPERS with kid gloves?
Yves Smith of the Naked Capitalism blog has presented irrefutable evidence that CalPERS CEO Marcie Frost submitted false information to the pension fund when applying for the job she now holds. For […]
Ignoring risk hides pension costs from policymakers
A new rule currently being considered by the Actuarial Standards Board would finally require public pensions to meaningfully account for risk. In a commentary for the Voice of San Diego, I explain how […]
DMV supervisor unaware that sleeping on the job for 4 years straight requires disciplinary action
The most robust study ever conducted on the topic found that the average California state government worker earned 23 percent more in total compensation than their similarly skilled and educated private-sector counterpart. […]
Marin County promised pension benefits up nearly 1000%, dwarfing rate of economic growth
The total pension benefits promised by Marin County increased 982 percent from 1986-2016 — a rate 58 times greater than the cumulative increase in the county’s population, according to a just-released analysis […]
Marin union votes to strike
Despite the fact that local government workers in Marin County receive wages higher than local government workers in over 99 percent of counties nationwide — even after adjusting for regional cost differences […]
Despite wages that rank in the top 1% nationwide, Marin union considers striking
Update: Strike was approved on 6/20/18. The average wage for Marin County local government workers is richer than what their peers in 99.8 percent of counties nationwide receive, according to new wage data […]
The Palo Alto City Council gets it!
The Palo Alto City Council is in the process of (hopefully) approving a proposal that would add transparency to negotiations with government labor unions. I wanted to share the below excerpt from Monday’s […]
Madera mayor misleads residents in attempt to hide unjustifiable, excessive pay raises
Summary: The City of Madera is facing significant financial problems, with a general fund deficit projected for each of the next five years, rising from $1.7 million in FY2018 to $3.9 million […]
2018 a decisive year for reining in pensions
A great column by Jody Morales on the impact court rulings in 2018 might have for public pensions: Many noted reporters and columnists proclaim that every new tax is a pension tax. […]