Another Public Pension Report
The California Foundation for Fiscal Responsibility – the group that is pushing public pension initiatives in California – has released another report. There is little mention of UC although the UC pension appears on one chart as 73% funded.
Most of the report is aimed at CalPERS and CalSTRS. As in the past, the new report of this group aims at greater respectability than some of the hit pieces that have been previously issued on pensions. For example, it reports that public workers in California on a total compensation basis (wages + benefits) are – adjusted for occupations – slightly higher than the private sector but slightly lower than large private firms.
Also, as in the past, it is unclear where the group is getting its funding and whether there is enough money around to back its initiative proposals. Some statewide initiative could wind up sweeping UC into pension changes that would override the Regents’ action of last December.
The full report is at http://www.fixpensionsfirst.com/docs/Full_Report.pdf
