With some investment returns likely falling as far as 15 percent, states are going to face a cumulative pension debt of between $1.5 trillion and $2 trillion by the end of the year.
Our most troubled state enters 2020 having lost residents for six years in a row.
The guiding principle for California policymakers seems to be: Tell everyone what they want to hear—or at least stick to the rosiest scenarios.
Mike Riggs talks with Illinois Policy Institute's Adam Schuster about how to fix the state's pension debt crisis.
Phillip Brailsford was acquitted of murder for a shooting captured on video that subsequently drew national outrage. Now he's getting paid for it.
Last year, CalPERS issued 30,969 pensions checks worth $100,000 or more on an annualized basis—up from about 14,600 six-figure payouts in 2012.
Allison Schrager wants to change the way you take chances.
The laws governing public pensions allow for horrible people to collect government benefits.
One pension-spiking tool can be scaled back now, but the California Rule remains intact.
A candid picture of how investors see the slowly unfolding pension crisis
Why did the pension board go along with the scam? Probably because its members are current officers and retirees.
Riverside County Supervisor Jeff Hewitt delivers the L.P.'s prebuttal to tonight's SOTU, while the L.A. Times asks whether Hewitt can "make a fringe party mainstream."
They demanded higher salaries. The real problem: A disconnect between what teachers see in their paychecks and what employers are actually paying them.
Skyrocketing debt and pension obligations make for a tough labor environment.
"We have a legal and moral obligation to provide and deliver on the promises that have been made," says Gov. Matt Bevin, who called the session Monday.
A heavily abused program breaks the limits of what the IRS allows, leaving taxpayers even further on the hook.
Rahm Emanuel wants pot legalization and a casino so the city can grab more taxes for its pension debts.
The L.P.'s biggest 2018 winner wants to tackle California's public sector pension crisis head-on
The Windy City is bleeding population. A commuter tax is most certainly not going to help.
Will your state pay what its politicians promised? Almost certainly not.
Lawsuit says California pension agency withholds crucial data.
California citizens must now meet and confer with union bosses before qualifying any compensation-related initiatives for the ballot.
Cash-in on a controversial, costly program from city's new top cop.
Rising benefits costs and a bloated administration is putting Los Angeles' schools deep in the red.
A bill would allow some officials retroactive access to potentially 10 years of pension payments. Guess who would be on the hook for it?
The school district points fingers at charter schools instead of trying to slim down and compete, a new report says.
But he's leaving office without really addressing the state's massive public retirement problem.
Donn Thompson was paid for more than 9,200 hours of work last year. But there are only 8,760 hours in a year.
A travesty that sheds light on public retirement costs in Florida and around the country
Given the pension funds' fiscal condition, it's hard to understand any serious opposition to these modest measures. But don't hold your breath.
An unreleased analysis of the school district's post-employment benefits shows liabilities climbed from $13.5 billion in 2015 to $14.9 billion in 2017.
Taxpayer contributions to pension plans have doubled in the past decade, but pension debt continues to increase.
Teachers have shut down schools across the state, allegedly to protest pension changes. But those pension reforms are pretty mild.
Meet the LAPD couple who made a cool $2 million off the city while hanging out at their condo in Cabo San Lucas.
Abraham Lincoln couldn't have dreamed that 21st-century Americans would still be paying for pensions created under him.
Upcoming state supreme court case may be a game-changer if it reverses "California Rule" holding pension promises inviolate.
One of the highest retirement payouts in the state. Pennsylvania is dealing with $70 billion in pension debt.
California's pension fund looks to shift blame and avoid responsibility.
The state has a $135 billion pension debt, but Phil Murphy and Kim Guadagno would rather spend the campaign's final days fighting the culture war.
And seven retirees in Los Angeles pulled down more than $1 million each in retirement benefits last year.
New report shows how California's pension obligations are crowding out spending on other things.
The state pension mess is even worse than you think.
Millions lost when political influence overrules financial acumen.
But it doesn't say what you think it says.
All that's missing is Gov. Rick Snyder's signature.
Just because you haven't heard about New York City's pension problems doesn't mean they don't exist.
State still owes over $70 billion to current workers and retirees, but moving future hires to 401(k)-style retirement plans will save taxpayers in the long run.