By Daniel Borenstein | Contra Costa Times — In November, Berkeley City Manager Phil Kamlarz traded his $250,000-a-year job for retirement with a starting pension of about $266,000 annually. The deal highlights the city’s generous pension program, which is one of the better plans in the state but by no means unique. The costly program is also $420 million underfunded, a shortfall equal to more than three years of city payroll, according to the city’s latest actuarial reports. Read the entire article . . .
Receive Email Updates
Fix Pensions FirstAre you looking for Fix Pensions First -- the website of the California Foundation for Fiscal Responsibility (CFFR)? Then click on the image above, or click here.
- How did CalPERS dig a $153 billion pension hole?
- Public employee unions push back with lawsuits over pension reforms
- CalPERS Nets 0.14% Return on Investments for FYE 2011-2012
- Fate of ballot measures often depends on the wording
- San Jose’s pension reform ballot measure featured on CBS Evening News
- Attorney General distorts democracy to aid unions
- California Pension Reform suspends campaign
- Clamor grows to rein in California’s public pension benefits