Public pensions:Liberal San Jose Ca. ...

Public pensions:Liberal San Jose Ca. broke

Posted in the Chico Forum

liberals fault

Hidden Valley Lake, CA

#1 Oct 11, 2013
the once wealthy thriving City of San Jose Ca. may be the next City to file for Bankruptcy thanks to the liberal Democrat dominated leadership.

The Retirement Systems' Unfunded Liabilities
Unfortunately, the City’s retirement systems are significantly underfunded. As of June 30, 2011, the City’s two retirement systems had about $3 billion in unfunded liabilities. These unfunded liabilities are the result of retroactive benefit enhancements, changing demographics, and overly optimistic assumptions that haven’t held true (Note: these factors are discussed further in: Why Retirement Costs Have Grown So Much).
http://www.sanjoseca.gov/index.aspx...

Lawmakers call for state audit of San Jose's pension problems ...
www.mercurynews.com/ci_20101403

San Jose unions sue to block pension reform - San Jose Mercury …
www.mercurynews.com/.../ci_20794968/san...law...

FDR was right. There never should have been, nor should there ever be PUBLIC EMPLOYEE UNIONS.
F.D.R. Warned Us About Public Sector Unions - Room for …
www.nytimes.com/.../fdr-warned-us-about-publi...

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