Bipartisan advocacy for fair and sustainable pensions.
Joined August 2015
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Retirement Security retweeted
"Overall, a credit upgrade is nothing but good news for Arizona and should be celebrated. But citing below-average public pension liabilities as a contributing factor ignores the systemic issues that increased Arizona’s pension debt to historic levels."
buff.ly/2QDKHyT
Retirement Security retweeted
Most public pensions need to take a closer look at the fiscal risk their fund places on taxpayers, employers, and members. For CalPERS, the best time to do that is now. Check out my latest op-ed on this subject. ocregister.com/2019/11/18/ca…
Retirement Security retweeted
California’s public pensions are facing economic headwinds and should consider reducing risk for the sake of taxpayers and the public workers who depend on the retirement systems, say @lengilroy and @PensionZachary in @ocropinion @SoCalOpinion.
buff.ly/2Xs2ESp
Retirement Security retweeted
The average teacher salary in CA is $81,126. For what the state would pay to wipe out its current $93B pension debt over the next decade, they would be able to give teachers a 36% raise. That’s over $29K! Learn more: equable.org/leaders-ignored-… #equable #teachers #pensions
Retirement Security retweeted
11.94% of #Arizona #teacher salaries now go to public pension plan contributions. In 2001, it was only 2% - that's a 5x increase in less than 20 years! Learn more here: equable.org/funded-status-ar… #ASRS #pensioneducation
Retirement Security retweeted
Today, we released the results of our first national teacher survey. The report provides an unprecedented understanding of teachers’ views of their retirement plans. The results may surprise you. Read the report: equable.org/nationalteachers… #equable #teachers #pensions
Retirement Security retweeted
The map illustrates how well-funded each states’ public employee #pensions plans are. The more ‘in-the-pink’ the state is, the more likely that the tax dollars won’t be diverted to cover the cost of funding the retirements of bureaucrats. buff.ly/2VvYk3M #PublicPensions
Retirement Security retweeted
3 days till Halloween! What is the scariest thing you have seen this October? Learn more at Statedatalab.org
Retirement Security retweeted
Drowning in debt, Illinois has over 600 different public pension systems along with 5.4 government entities per 10,000 people. Follow @ReasonFdn our new policy-focused account for research on government reform and spending.
Illinois has more government entities than any other state and amidst its debt crisis is now looking to consolidate. Illinois has 5.4 different government entities per 10,000 people. Texas has 2.0 and California has 1.2 governments per 10,000 people.
reason.org/commentary/illino…
Retirement Security retweeted
Many AZ electeds still cling to faith that ASRS is “healthy” despite having run up over $15b in pension debt since 2002, prompting a 4x+ increase in teacher & employer pension contribution rates...
An overly optimistic assumed rate of return for the Arizona State Retirement System continues to expose taxpayers to significant risk. Our full analysis of the #pension system is here: reason.org/policy-study/ariz…
Retirement Security retweeted
Colorado’s Public Employee’s Retirement Association (PERA) has less than 60 percent of the money to pay for benefits that have already been promised to workers. PERA’s losses in 2018 added another $1.8 billion to its unfunded #pension liabilities.
reason.org/commentary/more-s…
Retirement Security retweeted
With Pension Crisis Looming, Marin County's Cities Need to Take Steps Now (op-ed - John McCauley & Larry Chu / Marin Independent Journal) bayareane.ws/2nXbNoZ
Retirement Security retweeted
.@GovPritzker warns Illinois state agencies to brace for ‘significant’ budget cuts illin.is/2LSe0K8 #twill 1/14
Retirement Security retweeted
In a co-authored op-ed, Prof Ingo Walter shares thoughts on how to protect #taxpayers from being burdened by public #pension funds, via @pensionsnews: nyustern.us/2ZzmQSD
Retirement Security retweeted
Connecticut owes $37.5 billion for public-employee pensions, plus another $22 billion for public-sector retiree health care. That works out to $42,500 for each of the state’s 1.4 million households. bit.ly/2LClCmf
Retirement Security retweeted
When we see that a state claims to have a balanced budget with a surplus but it turns out they are still drowning in millions of pension debt
Retirement Security retweeted
How well-funded are pension plans in your state?
#Kentucky faces the largest deficit, with its pension plans only 34% funded. New Jersey follows at 36% funded, with #Illinois only slightly better at 38%.
@janellecamm breaks it down further here: bit.ly/2LW988p
Retirement Security retweeted
My team worked hard to bring you Chicago's true numbers less than one week after the city released their annual report!
Chicago's 2019 financial report has been released!
Once again, Chicago has received an "F" on their financial status.
The city needs $34.4 billion to pay their bills and has a Taxpayer Burden of $38,100
You can read the full report here: bit.ly/2LhMPL0
Retirement Security retweeted
States have been better about recognizing and setting aside one-time windfalls and surges in revenue not expected to recur regularly. routefifty.com/finance/2019/…
Retirement Security retweeted
Research on large and growing unfunded #pension liabilities in #Illinois covered in @CrainsChicago story ow.ly/noWK50uLR1f