PensionTsunami.com brings us these remarkably insightful remarks from David Crane that explain why – when already carrying an unfunded liability – a pension system needs to outperform, not merely hit, their investment target in order […]
Nobel Laureate: Public Pensions are a “Disaster” and Rely on “Idiotic” Accounting
Nobel laureate William F. Sharpe spoke to the Financial Analysts Journal on how public pension plans use inappropriately high discount rates to understate their true liability: Are public pensions a problem? You bet. […]
CalPERS looks at long-term rate hike to cut risk
CalPERS recognizing their discount rate is inappropriately high; yet political pressure is used as a counter argument against adopting a fiscally sound rate!
Why Public Pension Forecasters Consistently Get it Wrong
The Reason Foundation has a fantastic article on the systemic, behavioral bias at play in making public pension actuarial assumptions. The article cites a recent study that reveals, contrary to popular opinion, […]
LA Water District paid $42,942 for a single employee’s health insurance plan
Executive Summary The price of health insurance in America has consistently risen faster than the rate of inflation and, despite the intentions of the Affordable Care Act (ACA), is projected to continue […]
LA governments pay 71% more for health insurance than private employers, pay up to $43,000 per plan
Despite the warning from the Government Accountability Office (GAO) of the impending burden to state and local governments from rising healthcare costs, many Los Angeles governments are purchasing wildly exorbitant health insurance for their employees, at […]
2013 Charter Schools Data Added – Charter Teachers Make Substantially Less than Public
Transparent California has just been updated with 2013 salary and benefits data for 82 charter schools from across the state; including the largest charter school in the state – Green Dot Public Schools. […]
CalPERS state worker rate increase: $487 million
The Calpensions blog – one of the best sources for accurate, comprehensive info on California’s pension systems – explains the nearly $500 million CalPERS rate hike that may take effect next year.
City report confirms LADWP pay highest among peers both regionally and nationwide
Phase I of a comprehensive benchmarking report on the LADWP was just released. The report itself confirmed a few things most ratepayers already know – that the LADWP’s payroll costs are dramatically […]
Examining Public Pay in California: The Los Angeles Department of Water and Power
Transparent California has released a new study that analyzed the pay received by employees of the Los Angeles Department of Water and Power. The study compared the pay and benefits of DWP […]