By Lawrence J. McQuillan | Thursday October 8, 2015 at 5:57 PM PST | Comments Off on Actuary Hands Gift to Pension Reformers
The actuarial firm Cheiron recently projected the future yearly pension costs for San Jose’s police and firefighter pension plan. Cheiron wrote: In the worst scenarios, the City’s aggregate contribution rate can exceed 110 percent of payroll. In the best scenarios, the City’s Tier 1 rate can drop to 0 percent, leaving a relatively small...
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Tags: 401(k), actuarial, actuary, Cheiron, firefighters, government pensions, pension contributions, pension reform, Pensions, Police, public pension reform, public pensions, San Jose
By Peter Gordon | Friday June 8, 2012 at 2:23 PM PST | 1 Comment
It seems that push has come to shove in some California cities. The Stockton City Council voted to give its City Manager the green light to file for bankruptcy—which could address the problem of that city’s debt, now thought to be in the range of $25-40 million. The City’s diminished income is not up...
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Tags: American History, Budget and Tax Policy, California, cities, Civil Society, Economics, Elections, fiscal insolvency, government employee unions, government pensions, infrastructure, Labor, local government, Politics, Privatization, public employees, public sector, Robert Fogel, San Diego, San Jose, social services, Stockton, Taxation, Unemployment, Urban Issues, Welfare, X-Prize