IS CALIFORNIA HEADED FOR A SUPER STORM OF UNFUNDED PENSION LIABILITIES?

Join Us for a Frank Conversation on the Current State of California’s Public Pension System

Estimates vary wildly on just how large California’s unfunded pension liabilities actually are.  CalPERS and CalSTRS management maintain that their fund finances are sound, however, some analysts put the liability figure at $265 billion, yet others project it to be as high as $737 billion.  To put that latter figure in perspective, it amounts to over seven times the total planned budget expenditures for the whole State of California in 2011.  Additional local government pension liabilities are a patchwork of plans that claim to be fully funded on the one hand, and cities on the verge of bankruptcy on the other.

This situation has been described by some as a “time bomb” or a “tsunami” and by others as an over blown hoax to force greater contributions from the State’s public employees and a restructuring of our pension system.

Join the Bay Area Council, Stanford Professor and former State Assemblymember Joe Nation; who has authored a recent study on public pensions in California, Long Beach Mayor Bob Foster, San Francisco Public Defender Jeff Adachi, President of the California Foundation for Fiscal Responsibility Marcia Fritz, and a panel of public pension experts for an open honest and frank discussion on the current state of California’s public pension system.

Date: Wednesday, March 9, 2011
Registration: 8:30 – 9:00 AM
Public Pension Forum: 9:00 -11:00 AM
Location: SNR Denton, San Francisco

RSVP to Kristina Frost:
kfrost@bayareacouncil.org or 415.946.8740

Please contact Matt Regan with any questions at 415.946.8710