‘A day of reckoning is coming’

…and may come to CalPERS, the state pension system, which holds that public employee pensions, unlike everybody else’s, cannot be cut in tough times. And that, even in bankruptcy, a city’s employees deserve special privileges.

The SacBee’s Dan Walters points out that Uncle Sam may not see it that way. And that is just, because, as he also points out, CalPERS assured cities they could give employees enhanced retirement — earlier, more money — without paying more. They bear a share of the responsibility for municipal bankruptcies; they should be part of the solution.

This entry was posted in Uncategorized. Bookmark the permalink. Post a comment

Post a Comment

You must be logged in to post a comment.

We reserve the right to remove any content at any time from this Community, including without limitation if it violates the Community Rules. We ask that you report content that you in good faith believe violates the above rules by clicking the Flag link next to the offending comment or fill out this form.
  • Blog Author

    Michael Fitzgerald

    Mike Fitzgerald is The Record’s award-winning metro columnist. His column runs in the paper three times a week. Born in San Francisco, he was raised in Stockton. His column covers diverse beats including, sometimes, the offbeat. Read Full
  • Categories

  • Archives

  • RSS Related Content