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Articles Tagged With ‘unfunded pension liability’




Protect SLO, oust Heidi Harmon and Carlyn Christensen

Written on 13 Oct, 2018 in Featured, Opinion | 18 comments

OPINION by JIM DUENOW San Luis Obispo needs a new mayor and city council. In the 50 plus years that I have lived and practiced law in SLO, this is the most important election I can remember. Our city now... (Continue reading)

Cuesta College in deficit spending, union pushing raises

Written on 11 Feb, 2018 in Daily Briefs | 24 comments

While the Cuesta College Board of Trustees is looking at strategies to offset a $551,000 budget deficit, the faculty union is pushing for higher pay. [Cal Coast Times] Lower enrollment coupled with increased unfunded pension liabilities have led to the... (Continue reading)

CalPERS move leaves SLO with multi-million dollar shortfalls

Written on 1 Mar, 2017 in Daily Briefs, Featured | 36 comments

Following the California Public Employee Retirement System’s (CalPERS) recent decision to lower its investment forecasts, the city of San Luis Obispo is facing skyrocketing pensions costs. As result, also because of slowing tax revenue growth, the city is facing a... (Continue reading)

CalPERS lowers investment forecasts, liabilities to increase

Written on 22 Dec, 2016 in Daily Briefs, Featured | 9 comments

By JOSH FRIEDMAN The California Public Employees Retirement System (CalPERS) has decided to lower its discount rate from 7.5 percent to 7.0 percent, which will cause pension costs to rise for state and local government agencies. CalPERS’s discount rate is... (Continue reading)

Employee costs and pension liabilities accelerating in SLO

Written on 1 Dec, 2016 in Featured, Uncovered SLO | 23 comments

By JOSH FRIEDMAN The city of San Luis Obispo’s unfunded pension liabilities have risen to $126 million, more than the rest of the cities in SLO County combined. After the bottom fell out of the housing market, the majority of... (Continue reading)

California has a surplus, but retirement liabilities remain

Written on 19 Jan, 2016 in Daily Briefs, Featured | 28 comments

A few years after California faced a $26 billion deficit, lawmakers are debating how to spend a budget surplus. However, state officials have not tackled California’s unfunded pension liabilities problem, which is continuing to grow. [Contra Costa Times] The state... (Continue reading)

Pismo Beach pays $1 million to reduce pension liability

Written on 22 Mar, 2015 in Daily Briefs, Featured | 9 comments

Pismo Beach City Council voted unanimously on Tuesday to approve a $1 million payment to reduce the city’s unfunded pension liability costs. Currently, the city has an unfunded pension liability of $13.6 million. This includes $6.3 million in the safety... (Continue reading)

Has SLO gotten a grip on its pension problem?

Written on 4 Nov, 2014 in Featured, Uncovered SLO | 11 comments

By JOSH FRIEDMAN Ahead of Tuesday’s vote on San Luis Obispo’s half-cent sales tax, state pension reports have emerged indicating that the city’s unfunded liabilities have decreased slightly, but its annual retirement costs will likely rise by several million dollars... (Continue reading)

County pension liability tops $346 million

Written on 23 Jul, 2014 in Featured, Uncovered SLO | 72 comments

By DANIEL BLACKBURN San Luis Obispo County employees’ pension plan has a $346 million unfunded liability, a matter of concern to the Grand Jury because of its breathtaking size and the suggestion that officials may have tried to camouflage the... (Continue reading)

Will SLO issue a pension obligation bond?

Written on 17 Apr, 2014 in Featured, Uncovered SLO | 37 comments

By JOSH FRIEDMAN Chances are growing that the city of San Luis Obispo will issue a pension obligation bond to gain control of its unfunded retirement plan liabilities, which have soared past $100 million. The city currently has a total... (Continue reading)