Author: David Crane

Time For CalPERS To Lead

According to a recent article, the California Public Employees’ Retirement System (CalPERS) is considering a meaningful reduction in the investment return it assumes when establishing pension contributions. Future generations should hope CalPERS’s board makes the change. Public employee pension costs…

MCERA: Will CA Supreme Court Justices Be Courageous?

The California Supreme Court has until early December to rule on a request by public employee unions to de-publish an Appellate Court ruling that could help citizens meet rising public pension costs. Public employee pension costs are designed to be…

Guidelines for Contributors to California Gubernatorial Candidates

Candidate speeches will be poetic but most governance is prosaic. Fast on the heels of Tuesday’s election will come announcements of more entrants to the 2018 contest to succeed Governor Jerry Brown. Antonio Villaraigosa jumped in yesterday, joining John Chiang,…

Defined Benefit Plans Per Se Are Not The Problem

The LATimes and CALMatters have been running an excellent series on public pension issues. However, the most recent article obscures a key point, which is that the “hybrid” plan Governor Brown proposed in 2012 for new employees would not have…

Ontario Is A Model For California’s Pension Plans

Just three months after its 2015 year-end, the Ontario Teachers’ Pension Plan issued an annual report with up-to-date funding information. Meanwhile, in California we are still waiting for our largest pension fund, CalPERS, to issue a funding report for a…

California’s Governors Should Send Their Kids To Public Schools

First In A Series On California’s 2018 Gubernatorial Election Citizens feel confident President Obama would never move himself and his family to another country for their safety. National security is the #1 presidential responsibility. Citizens expect presidents to experience the…

The Ultimate Recipients of California’s State Spending

California’s General Fund will spend $122 billion this fiscal year. The state budget illustrates that spending in the following manner: But that chart doesn’t show WHO pockets that money. Looked at that way: As an example, one must look to…

Big Changes in California’s Spending

A review of California’s 2016–17 state budget yields a new pattern as spending surges on retirement and Medicaid (Medi-Cal) costs. Budget shares have changed dramatically since 2010–11: Sources: Enacted Budgets, Debt Affordability Report Much has been written about the spending surge…

Big Profits From California’s Public Spending

State and local government employees in the United States will collect more than $1 trillion in compensation and benefits this year, more than any other recipient of state and local spending. Pharmaceutical, healthcare and defense corporations garner a similar magnitude…

Rahm Emanuel Rescues The Truth

We were not honest. The whole system wasn’t honest. The city didn’t contribute the honest amount. Workers were not contributing the honest amount, and we winked at the public, yet left them with a problem because nobody had the leadership…