Friday, December 23, 2016

Sonoma County Pension Costs Skyrocket

The Santa Rosa Press- Democrat looks at the recent decision by the California Pension and Retirement System to lower their earnings expectations. They include a rather startling fact about their county's pension costs:

"Sonoma County has seen its annual pension costs increase from $20 million in 2000 to $113 million last year."

That's millions of dollars that could be spent on filling potholes or other county functions but now go to county employees no longer working, or won't be. You have to wonder where Humboldt's pension debt stands?

I notice Richard Rider made a comment to the story that's worth a read, pointing out California will likely surpass the state with the biggest pension debt- Alaska- within 18 months:
"Correct. Indeed, according to my analysis, we'll pass Alaska in less than 18 months, becoming THE worst state for pension debt per household."


At 10:45 AM, Anonymous Anonymous said...

Ooops, posted this on wrong article

Fred, I saw this a while back. It may shed some light on this issue for you

Humboldt County residents owe $4,702 per person towards County employees’ pensions

At 10:49 AM, Blogger Fred Mangels said...

Didn't I link to that not long ago?

At 11:09 AM, Anonymous Anonymous said...

You very well may have been who pointed me there. Thanks.


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