Great article in today’s LA Times that highlights how California public pension plans get around IRS limits designed to limit pensions to approximately $210,000 or less: Dozens of retired Los Angeles employees […]
WeHo city workers paid 47-62% above market, but council says that’s not enough!
The West Hollywood City Council formally abandoned even the pretense of representing taxpayers when it recently voted 4-1 to “add a student loan forgiveness program” to the list of benefits available to […]
Growth in teacher pay dwarfed by soaring health, retirement benefits
A rapid rise in the cost of retirement and health benefits is dwarfing wage growth at many California school districts, according to an analysis of newly released 2017 public pay data from […]
140-hour average workweek boosts Orange County firefighter’s compensation to more than $1 million over the past two years
For the fifth year in a row, Fire Captain Gregory Bradshaw has topped the overtime pay list at the Orange County Fire Authority (OCFA), thanks to a $267,618 overtime payment which boosted […]
Inglewood police chief gets an extra $61,000 annually for taking a 2-week course
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 […]
