California’s pension gap

CALmatters is pleased to launch a new project about California’s pension debt crisis in collaboration with the Los Angeles Times and Capital Public Radio.

In print, online and over the airwaves, this series will explore in the coming months the consequences of a historic expansion of public employee retirement benefits in 1999. The package of enhancements, known as SB 400, has contributed to a huge gap between California’s obligations to current and future retirees and the capacity of public pension funds to pay them. Future articles will examine the impact of pension costs on local government, their budgets and their public services, the politics of pensions reform and related subjects.

We invite you to read our first piece:

Pension Gap

It was a deal that wasn’t supposed to cost taxpayers an extra dime. Now the state’s annual tab is in the billions, and the cost keeps climbing.”

By JACK DOLAN

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