Coronavirus Is Devastating State Budgets. Is Leasing Toll Roads to Private Operators the Answer?
Leasing state toll roads could provide the revenue states need to improve their balance sheets.
Pensions
The Supreme Court's Refusal to Reinvigorate the Contract Clause
The Court has said almost nothing interesting about the Contract Clause this millennium, and in 2018 it continued to apply the Clause loosely.
California's Top Court Rules Against Pension Spiking
The decision will make it harder for government employees to abuse and milk the state’s retirement systems.
The Former Cop Who Killed George Floyd Will Get $50K Annual Pension Even if Convicted of Murder
The family of George Floyd probably won't be able to successfully sue Derek Chauvin in civil court because of qualified immunity, but they will help pay for the killer cop's retirement.
The COVID-19 Economic Collapse Is Absolutely Wrecking State Pension Systems
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.
Illinois Spent the Last Decade Losing Population and Learning Nothing
Our most troubled state enters 2020 having lost residents for six years in a row.
What, Us Worry? California Lawmakers Still Ignoring Dark Pension Clouds.
The guiding principle for California policymakers seems to be: Tell everyone what they want to hear—or at least stick to the rosiest scenarios.
Illinois Is the Canary in the Pension Coal Mine, Says Adam Schuster
Mike Riggs talks with Illinois Policy Institute's Adam Schuster about how to fix the state's pension debt crisis.
This Cop Is Getting $2,500 a Month Because Killing an Unarmed Man in a Hotel Hallway Gave Him PTSD
Phillip Brailsford was acquitted of murder for a shooting captured on video that subsequently drew national outrage. Now he's getting paid for it.
California's 6-Figure Pension Club Has Doubled in Size Since 2012
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.
An Economist Walks Into a Brothel: What Prostitutes and Big-Wave Surfers Can Teach Us About Risk
Allison Schrager wants to change the way you take chances.
Doctor Convicted of Child Abuse Still Getting $100,000 Annual Taxpayer-Funded Pension
The laws governing public pensions allow for horrible people to collect government benefits.
California Supreme Court Dodges a Hard Call in Pension Ruling
One pension-spiking tool can be scaled back now, but the California Rule remains intact.
Companies Should Avoid States With Huge Pension Debts, Warren Buffett Warns
A candid picture of how investors see the slowly unfolding pension crisis
Illinois Cops Turned $850 Into a $20,000 Pension Boost
Why did the pension board go along with the scam? Probably because its members are current officers and retirees.
The Libertarian Party State of the Union: 'Americans deserve better' than 'Republicans and Democrats careen[ing] toward socialism and fascism'
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."
What Really Drove Los Angeles Teachers To Go on Strike?
They demanded higher salaries. The real problem: A disconnect between what teachers see in their paychecks and what employers are actually paying them.
Illinois Bleeds Population for Fifth Year in a Row
Skyrocketing debt and pension obligations make for a tough labor environment.
Kentucky Launches Special Session to Deal With State's Public Pension Crisis
"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.
In Los Angeles, Massive Payments to Retirees Don't Even Count as 'Pensions' Anymore
A heavily abused program breaks the limits of what the IRS allows, leaving taxpayers even further on the hook.
Chicago Mayor Proposes Dealing Drugs, Gambling to Make Ends Meet
Rahm Emanuel wants pot legalization and a casino so the city can grab more taxes for its pension debts.
Libertarian Jeff Hewitt Wins Seat on Riverside County Board of Supervisors
The L.P.'s biggest 2018 winner wants to tackle California's public sector pension crisis head-on
Chicago Mayoral Candidate Wants To Settle City Debts by Taxing the Neighbors
The Windy City is bleeding population. A commuter tax is most certainly not going to help.
The Public Sector Pension Crisis
Will your state pay what its politicians promised? Almost certainly not.
Why Is Public Employee Disability Claim Data Being Kept Secret?
Lawsuit says California pension agency withholds crucial data.
Public Sector Unions Win Big at the California Supreme Court in Getting San Diego Pension Reforms Overturned
California citizens must now meet and confer with union bosses before qualifying any compensation-related initiatives for the ballot.
L.A.'s New Police Chief Pretended To Retire and Got $1.27 Million for It
Cash-in on a controversial, costly program from city's new top cop.
LAUSD's Fiscal Crisis Can't be Blamed on Charter Schools or Declining Enrollment
Rising benefits costs and a bloated administration is putting Los Angeles' schools deep in the red.
How to Make a Pension Crisis Worse: N.J. Officials Want Back in, Without Paying for It
A bill would allow some officials retroactive access to potentially 10 years of pension payments. Guess who would be on the hook for it?
Pensions, Administrative Bloat, and the Success of Charter Schools Are Driving the Los Angeles Public School System Towards Insolvency
The school district points fingers at charter schools instead of trying to slim down and compete, a new report says.
California Gov. Jerry Brown: 'A Lot of Cities Signed Up for Pensions They Can't Afford'
But he's leaving office without really addressing the state's massive public retirement problem.
Firefighter Earned $300K in Overtime by Working More Hours Than Actually Exist
Donn Thompson was paid for more than 9,200 hours of work last year. But there are only 8,760 hours in a year.
Deputy Who Failed to Engage Parkland Shooter Gets $104,000 Annual Pension for Life
A travesty that sheds light on public retirement costs in Florida and around the country
California Pension Bills Are Sensible Fixes, but They Have Little Chance of Passing
Given the pension funds' fiscal condition, it's hard to understand any serious opposition to these modest measures. But don't hold your breath.
Los Angeles Schools Facing $15 Billion Debt for Retiree Health Care
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.
America's Sinking Public Pension Plans Are Now $1.4 Trillion Underwater
Taxpayer contributions to pension plans have doubled in the past decade, but pension debt continues to increase.
Kentucky Teacher Protests Are Political Theater Without Substance
Teachers have shut down schools across the state, allegedly to protest pension changes. But those pension reforms are pretty mild.
It's Not Enough to Get Paid for Not Working: These L.A. Police and Firefighters Figured Out How to Double It
Meet the LAPD couple who made a cool $2 million off the city while hanging out at their condo in Cabo San Lucas.
Woman Still Getting Civil-War Survivor Benefits Shows How Federal Policies Mortgage the Future
Abraham Lincoln couldn't have dreamed that 21st-century Americans would still be paying for pensions created under him.
Gov. Jerry Brown: Courts Must Let California Slash its Public-Sector Pensions
Upcoming state supreme court case may be a game-changer if it reverses "California Rule" holding pension promises inviolate.
Former Penn State VP Jailed for Sandusky Child Sex Scandal Gets $300K Annual Pension
One of the highest retirement payouts in the state. Pennsylvania is dealing with $70 billion in pension debt.
CalPERS Is Shocked—Just Shocked—To Find Cities Reeling Under Growing Pension Debt
California's pension fund looks to shift blame and avoid responsibility.
Neither Major Party Gubernatorial Candidate Has a Serious Plan to Fix New Jersey's Pension Crisis
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.
California's Six-Figure Pension Club Has 62,000 Members
And seven retirees in Los Angeles pulled down more than $1 million each in retirement benefits last year.
Like Schools, Parks, Social Programs? Too Bad, Because Retirees Get Paid First
New report shows how California's pension obligations are crowding out spending on other things.
The Hidden $700 Billion Debt Owed to Public Workers
The state pension mess is even worse than you think.
Forced Coal Divestment Robs California Pension Fund of Revenue
Millions lost when political influence overrules financial acumen.