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

Rising pension costs, declining sales taxes punch hole in Torrance’s $322 million budget (Torrance Daily Breeze)
https://www.dailybreeze.com/2019/05/13/torrance-maps-out-322-million-budget-with-more-money-headed-to-law-enforcement-pension-costs/

Governor boosts school pension cost relief plan (Calpensions)
https://calpensions.com/2019/05/13/governor-boosts-school-pension-cost-relief-plan/

California’s education funding is at a record high. So why are schools short on cash? (LA Times)
https://www.latimes.com/politics/la-pol-ca-road-map-california-school-funding-shortfall-20190512-story.html

Editorial | Tax measures revisited amid new budget shortfalls (Santa Cruz Sentinel)
https://www.santacruzsentinel.com/2019/05/11/editorial-tax-measures-revisited-amid-new-budget-shortfalls/

Op-ed: Challenging the status quo in Ventura (Ventura County Star)
https://www.vcstar.com/story/opinion/editorials/2019/05/11/challenging-status-quo-ventura/1134080001/

Opioid prescriptions drop sharply among California state workers, CalPERS says (Sacramento Bee)
https://www.sacbee.com/news/politics-government/capitol-alert/article230341029.html

Lompoc grapples with long-term solutions to its budget shortfalls, burgeoning pension debt (Santa Maria Sun)
http://www.santamariasun.com/cover/18623/lompoc-grapples-with-longterm-solutions-to-its-budget-shortfalls-burgeoning-pension-debt/

National Stories

Arizona public safety pension board approves retroactive bonuses to executives (Arizona Republic)
https://www.azcentral.com/story/news/local/arizona-investigations/2019/05/13/phoenix-public-safety-personnel-retirement-board-approves-past-executive-bonuses/1166573001/

Will money from the education funding bill go to schools or PERS? It's not so simple (KGW (Ore.))
https://www.kgw.com/article/news/education/will-money-from-the-education-funding-bill-go-to-schools-or-pers-its-not-so-simple/283-fe5ef081-c0e9-4719-b502-3ad8b642412a

Where the 2019 Kentucky governor candidates stand on the pension crisis (Louisville Courier Journal)
https://www.courier-journal.com/story/news/politics/elections/kentucky/2019/05/10/kentucky-primary-elections-2019-governor-candidates-pension-crisis-voter-guide/1127643001/

‘No major shift’ on Illinois' pensions this session, lawmaker says (Illinois News Network)
https://www.ilnews.org/news/state_politics/no-major-shift-on-illinois-pensions-this-session-lawmaker-says/article_509f7fa4-733d-11e9-93b4-4b221978d38f.html

Editorial: New Jersey’s next budget needs to face its fiscal reality (Press of Atlantic City)
https://www.pressofatlanticcity.com/opinion/editorials/new-jersey-s-next-budget-needs-to-face-its-fiscal/article_07abf4dd-7798-5cbe-84fa-f0286aaccf77.html

Why N.J.’s most powerful political leaders are at war — and what it means for you (NJ.com)
https://www.nj.com/politics/2019/05/why-njs-most-powerful-political-leaders-are-at-war-and-what-it-means-for-you.html

Shutdown ahead? Battles over taxes, incentives and benefit reforms threaten to derail state budget (Burlington County Times)
https://www.burlingtoncountytimes.com/news/20190513/shutdown-ahead-battles-over-taxes-incentives-and-benefit-reforms-threaten-to-derail-state-budget

Op-ed: 'Path to Progress' Runs Right Over New Jersey's Teachers (Tap Into Patterson)
https://www.tapinto.net/towns/paterson/articles/path-to-progress-runs-right-over-new-jersey-s-teachers

Hits and Misses (Observer-Reporter (Penn.))
https://observer-reporter.com/opinion/editorials/hits-and-misses/article_2b786380-70db-11e9-99dd-674a114559d2.html

Public-Sector Unions: The Other Deep State (American Greatness)
https://www.amgreatness.com/2019/05/12/public-sector-unions-the-other-deep-state/