tag:blogger.com,1999:blog-1379348459799634768.post2079564249042421993..comments2024-03-15T20:40:42.249-07:00Comments on The State of the Union: LA Times Late to the Game: Pension Shell Games Falling Apart All Over CaliforniaArthur Christopher Schaperhttp://www.blogger.com/profile/15447642567461072221noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-1379348459799634768.post-34180173920680386182017-08-09T00:54:21.943-07:002017-08-09T00:54:21.943-07:00It is not a looming pension crises, it's here ...It is not a looming pension crises, it's here now in many cities and counties in Kalifornia. Politicians do not want to talk about pensions for fear of not being re-elected. In my home town we have 300 full time employees and 150 additional employees working for out bus system. The politicians say that the bus system does not lose money because it gets lots of money from state and federal grants. OK, but the pensions are not paid from that money, so the money for the 150 bus system employees comes from the general fund of the city. That's a problem! Only hope is that cities and counties adopt 401(k) plans for all NEW employees and dump "defined benefit" pensions.John Waynenoreply@blogger.com