How Retroactive Pension Increases and Lower Investment Returns Have Blown Up Sonoma County’s Pension System - UnionWatch

UnionWatch.JPGBy Ken Churchill

We should all care deeply about pension costs and the 400% increase in the costs over the past decade in Sonoma County. Why? Because every dollar going to over generous, retroactively enhanced pensions is taxpayer money that is not creating jobs, helping our fellow citizens, educating our children, or maintaining our roads and parks.

Most people know there is a pension problem, but don’t know how it was created or how big it is. Many, including our elected officials, don’t understand the options for making pensions sustainable again. The purpose of this paper is to answer those questions.

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