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 […]
Transparent California Releases 2014 Salary Data for California State and University Employees
Transparent California Releases 2014 Salary Data for California State and University Employees Average State compensation package is $110,663; Average CSU compensation is $103,864 TUSTIN — Today, TransparentCalifornia.com released previously unseen 2014 salary […]
Transparent California Releases University of California’s 2014 Pension Data
Transparent California Releases University of California’s 2014 Pension Data Average UC pension is $91,430; UC San Francisco leads system with average pension of $102,899 TUSTIN — Today, TransparentCalifornia.com released previously unseen 2014 […]
Over 8,000 LA County Retirees Made at Least $100k in Pension Pay as Taxpayer Cost Soars
Over 8,000 LA County Retirees Made at Least $100k in Pension Pay as Taxpayer Cost Soars Last year, 8,088 retirees in the Los Angeles County Employees’ Retirement Association (LACERA) received yearly pension and […]
Retired San Diego Parks and Recreation Director Tops 2014 Pension List with $756,000 Payout
Today, Transparent California posted the San Diego City Employees’ Retirement System 2014 pension data. The report showed 809 retirees received payouts of at least $100,000, an 11% increase from the previous year, […]
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, […]
Contra Costa County Schools Hit with Rate Increase to Fund Sanitary District’s $100k+ Pensions
Transparent California was featured in the Contra Costa Times and the OC Register today! From the Contra Costa Times op-ed, Contra Costa Sanitary District pensions should cover rate increase: Less than two […]
The Bakersfield Californian on Golden Empire Transit’s Pay Disparity
The Californian reports: Between 2012 and 2013, GET’s 10 highest-paid administrative employees received raises averaging more than 6 percent, according to the government employee wages website transparentcalifornia.com… GET bus drivers say it’s not […]