Political Dissonance in California

Political philanthropists must not be fooled. Imagine the following: A candidate for elected office in California says to donors and voters that, if elected, he will innovate state services so they are as consumer-friendly and digitally-available as, say, Apple’s services. But…

CA Continues To Abandon UC and CSU

2017–18 budget shows more displacement by retirement costs The State of California’s 2017–18 Enacted Budget confirms an ominous trend as state spending on retirement costs continues displacing state spending on the University of California and California State University. Seven years…

A Teachable Pension Math Moment

Unfortunately, compounding works in two directions. Yesterday the California Public Employees’ Retirement System reported excellent earnings for its 2016–17 fiscal year, earning 11.2 percent. Yet CalPERS’s Funded Ratio (the ratio of assets set aside to meet pension liabilities owed by…