Author: David Crane

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…

How Coiled Springs Turned 96% Into 69%

Or, How To Earn 7.8% for 20 Years But Fall Short $100 Billion Board members at CalPERS and other public pension funds often mislead citizens about the reasons for rising pension costs and worsening Funded Ratios (the ratio of pension…

Clinton and Trump Have This One Thing In Common

As president, neither could address some of our biggest problems. Americans too easily forget that most public services are provided by states, not the federal government. For instance, presidents can do little about these California problems: Prison Salaries > Higher…

California Legislature Picks on UC Again

Yesterday the California Legislature authorized another audit of the University of California. The expressed reason: concern over how UC President Janet Napolitano is spending $600+ million per year. Ironically, $600 million is the annual cost of just the latest raise…

The Crux of the Pension Matter

“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…