We need some better local leadership

17 Jun

I hate to criticize, really, but here’s an article from calpensions.com that says exactly what Brian Nakamura is afraid to tell us – the lukewarm measures he’s suggested for solving our city’s deficit will  take DECADES to have any effect. 

It just doesn’t seem sincere anyway. They say Chico PD hasn’t had raises since 2007? Well the lieutenants just got  raises, what do you call that? And while they make big whoop about these 53 lay-offs, they turn around and hire back more than half of them, and create a new position for Economic Development manager.

We need real reform, now. We need the public employees to pay for their own benefits, all of the them. We need to sue to roll back pensions of already retired employees – they didn’t make that deal with us, so why should we respect it? This is already being considered in other US cities. 

We need some leadership. 

 

Post-crisis reforms make pensions sustainable?

Written by Ed Mendel – March 12 2013 – from publicceo.com

 Originally posted at http://www.calpensions.com

A nationwide study, including CalPERS and CalSTRS, projects that huge pension fund losses during the financial crisis will be offset over three decades by a wave of recently enacted cost-cutting reforms — but only if several things happen.

–Pension fund earnings forecasts must hit their target. Critics say the forecasts, 7.5 percent a year for the two California funds, are overly optimistic and conceal massive debt.

–Government employers must make their actuarially required contribution to the pension fund each year. CalPERS has the power to demand full payment. CalSTRS contributions, frozen by legislation, are $4.5 billion a year short of the required amount.

–The cost-cutting reforms must not be rolled back. A state worker pension cut under former Gov. Pete Wilson in 1991 was followed by a major retroactive pension increase under former Gov. Gray Davis, the trendsetting SB 400 in 1999.

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