Pension Update – CSFA’s weekly round-up of public pension news and comment

Here is a weekly round-up of news and opinion on the pension issue. Stay informed on this important issue and pass these on to neighbors and colleagues.

California Stories

Pensions vs. Split Roll (Fox & Hounds)
http://www.foxandhoundsdaily.com/2017/10/pensions-vs-split-roll/

No Coercing State to Reform Pension Funds (American Spectator)
https://spectator.org/no-coercing-state-to-reform-pension-funds/

City service reductions, school cuts loom as the state pension crisis hits SLO County (SLO New Times)
https://www.newtimesslo.com/sanluisobispo/pension-tension/Content?oid=3561445

Forget the scary pension future; study confirms the crisis is hitting now (R Street)
http://www.rstreet.org/op-ed/forget-the-scary-pension-future-study-confirms-the-crisis-is-hitting-now/

Tax board leader urged quick hiring to get state workers better pensions (Sacramento Bee)
http://www.sacbee.com/news/politics-government/the-state-worker/article178073666.html

Councilman asks city to meet with Vacaville employees about benefits (Fairfield Daily Republic)
http://www.dailyrepublic.com/solano-news/vacaville/councilman-asks-city-to-meet-with-vacaville-employees-about-benefits/

Vacaville faces $13.3M cost for lowered return on state pension investments (Fairfield Daily Republic)
http://www.dailyrepublic.com/solano-news/fairfield/vacaville-faces-13-3m-cost-for-lowered-return-on-state-pension-investments/

California Treasurer Urges CalSTRS to Drop Gun Sellers (Chief Investment Officer)
https://www.ai-cio.com/news/california-treasurer-urges-calstrs-drop-gun-sellers/

New Stanford University Study Reveals California Pension Crisis is Bad Now, But Likely to Get A Lot Worse (Fox & Hounds)
http://www.foxandhoundsdaily.com/2017/10/new-stanford-university-study-reveals-california-pension-crisis-is-bad-now-but-likely-to-get-a-lot-worse/

Vacaville faces $13.3M cost for lowered return on state pension investments (Fairfield Daily Republic)
http://www.dailyrepublic.com/solano-news/fairfield/vacaville-faces-13-3m-cost-for-lowered-return-on-state-pension-investments/

University of California hands out massive pensions, hits students with higher tuition (The College Fix)
https://www.thecollegefix.com/post/37682/

Lack of Funding for UC Pensions May Prompt Tuition Increase (UCSD Guardian)
http://ucsdguardian.org/2017/10/09/lack-of-funding-for-uc-pensions-may-prompt-tuition-increase/

National Stories

Pension Liabilities Bite in the Present, Too (Competitive Enterprise Institute)
https://cei.org/blog/pension-liabilities-bite-present-too

Illinois Issues: Land of Lincoln, New Jersey Compete For Worst Fiscal Condition (NPR Illinois)
http://nprillinois.org/post/illinois-issues-land-lincoln-new-jersey-compete-worst-fiscal-condition#stream/0

Kentucky's pension crisis threatens state funding (WLKY)
http://www.wlky.com/article/kentuckys-pension-crisis-threatens-state-funding/12832357

Malloy warns he would veto a budget that defers pension contributions (Connecticut Mirror)
https://ctmirror.org/2017/10/11/malloy-warns-he-would-veto-a-budget-that-defers-pension-contributions/

How to fund teacher pensions, improve education without new taxes (Journal Inquirer (Connecticut))
http://www.journalinquirer.com/public/how-to-fund-teacher-pensions-improve-education-without-new-taxes/article_854bbe4a-ae84-11e7-a69d-db17a4c06bfd.html

Vote 'yes’ to yank pensions from corrupt politicians: Editorial (Poughkeepsie Journal)
http://www.poughkeepsiejournal.com/story/opinion/editorials/2017/10/11/vote-yes-yank-pensions-corrupt-politicians-editorial/753640001/

St. Joseph's Employees Protest Pension Benefit Cuts (Rhode Island Public Radio)
http://ripr.org/post/st-josephs-employees-protest-pension-benefit-cuts#stream/0

Pennsylvania Public School Employees returns 10.14% for fiscal year (Pensions & Investments)
http://www.pionline.com/article/20171011/ONLINE/171019964/pennsylvania-public-school-employees-returns-1014-for-fiscal-year

Iowa pension puts managers on chopping block (Institutional Investor)
https://www.institutionalinvestor.com/article/b153vqvks31grf/iowa-pension-puts-managers-on-chopping-block

Public Pensions - Biggest Financial Crisis Since The Great Depression? (Seeking Alpha)
https://seekingalpha.com/article/4112789-public-pensions-biggest-financial-crisis-since-great-depression

PERA reforms explained: What’s at stake in Colorado’s $32 billion pension problem (Denver Post)
http://www.denverpost.com/2017/10/10/pera-reforms-explained-colorado-32-billion-pension-problem/

GOP lawmakers spend hours debating pension reform. Public workers still in the dark. (Lexington Herald Leader)
http://www.kentucky.com/news/politics-government/article178117036.html

OP-ED On pensions, Kentucky should heed W. Virginia’s hard-learned lessons (Lexington Herald Leader)
http://www.kentucky.com/opinion/op-ed/article178123441.html

Commentary: Myth-busting the pension debate (Insider Louisville)
https://insiderlouisville.com/metro/commentary-myth-busting-the-pension-debate/