OC Politics Blog | Tag Archives: Pension Crisis

Sen. Moorlach introduces S.B. 1032, the Local Pension Protection Act of 2018

Posted on February 14, 2018 by Editor Posted in John Moorlach, Pension Crisis, Republican Party Leave a comment

Sen. John Moorlach Introduces Senate Bill 1032, the Local Pension Protection Act of 2018

FOR IMMEDIATE RELEASE: February 14, 2018

Sacramento, CA – “As the second of my package of pension reform bills, I’m introducing Senate Bill 1032, the Local Pension Protection Act of 2018. It would protect local pensions from being severely punished when they choose to leave the California Public Employees Retirement System (CalPERS) and fund their employee retirements with a different plan.

“A dramatic example is Loyalton, population 862, which has just one employee and four retirees. When it chose to leave CalPERS in 2013 because of rising costs it couldn’t afford, CalPERS charged it with a $1.66 million ‘termination fee,’ forcing pension cuts by 60 percent rather than pay the extravagant fee the small community could not afford. Continue reading→

Public employee unions vow to kill Moorlach’s California Financial Transparency Act

Posted on April 7, 2016 by Editor Posted in California, John Moorlach, Labor, Pension Crisis, Republican Party, State Senate Leave a comment

FOR IMMEDIATE RELEASE: Thursday, April 7, 2016

Contact Amanda Smith (714) 662-6050, amanda.smith@sen.ca.gov

Public Employee Unions Vow to Kill the California Financial Transparency Act

Unions say informing voters sets “a bad precedent,” provides “superfluous information” and “convolutes issues”

(Sacramento, CA) – California has over $250 billion in debt and unfunded liabilities, most of which is state public employee pension costs.

That’s why public employee unions are working to kill SB 1251 (Moorlach), which establishes the California Financial Transparency Act and requires the state’s financial data to be printed in the voter information pamphlet.
Opposition letters from unions have been pouring in, claiming this is “superfluous information” that “convolutes issues” and creates “unnecessary confusion for voters,” and that providing such information “sets a bad policy precedent.” Continue reading→

First financial report detailing Orange County’ unfunded pension liability now online

Posted on February 3, 2016 by Editor Posted in Eric Woolery, OC Auditor-Controller, OC Board of Supervisors, Orange County, Pension Crisis Leave a comment

FOR IMMEDIATE RELEASE: February 3, 2016

Contact: Eric Woolery 714-834-2457, eric.woolery@ac.ocgov.com; Meg Waters, 714-834-2318, meg.waters@ac.ocgov.com

First County Financial Report Detailing Unfunded Pension Liability Now Online

FY 2014-15 Comprehensive Financial Accounting Report (CAFR) and OC Citizens’ Report Released

The Orange County Auditor-Controller released the Comprehensive Financial Accounting Report (CAFR) for fiscal year 2014-15 and the OC Citizens’ report, a companion piece written in non-technical language. According to Auditor-Controller Eric H. Woolery, “Orange County had a good fiscal year 2014-15, revenues were up, expenses were down, but the talk of the town is the new line item on the financial statements, the Net Pension Liability or NPL.” Continue reading→

The truth about California’s massive pension crisis is finally coming into focus

Posted on January 24, 2016 by Editor Posted in California, John Moorlach, Pension Crisis 1 Comment

Report: Pensions drowning California and its cities

By: State Senator John Moorlach, O.C. Register

Get ready California. Without very much fanfare, the proverbial one-ton Government Accounting Standards Board gorilla has entered the room.

As the result of years of discussions over how best to account for the growing unfunded liabilities owed by government pensions systems, municipalities for the first time ever must include the unfunded actuarial accrued liability of their defined-benefit pension plans in their annual financial reports. Continue reading→

Stanton residents should reject Measure GG and the City Councilmen who support it

Posted on September 21, 2014 by Editor Posted in 2014 Elections, Ballot Measures, Brian Donahue, Bryan Palomares, Dave Shawver, Kevin Carr, Pension Crisis, Rigoberto Ramirez, Stanton, Taxes 1 Comment

Dave Shawver

Measure GG is the second tax hike on the Stanton ballot since 2012. Just two years ago, Stanton voters soundly rejected a proposed tax hike, Measure J. The politicians and bureaucrats claimed Measure J’s failure would “put our local public safety at risk…If Measure J fails, local businesses will not feel safe and could leave Stanton, causing unemployment and a greater economic downturn.” (Source)

They’re using those scare tactics again to fool us into passing Measure GG, which would give Stanton the highest sales tax in Orange County. Measure J was a $1,100,000 tax hike. Measure GG is nearly three times as large. Why would the politicians and bureaucrats propose a tax triple the size of the one we rejected in 2012?

The City of Stanton has argued that it has been cutting its budget to the bone since 2011, cutting $9 million from its general fund since then, according to OC Political. Protesters have raised concerns about the adequacy of these cuts, citing the levels of salaries of City employees and citing pay raises granted during since 2011, when the City is asking the voters to increase the sales tax: Continue reading→

Spitzer explains why he favors the new OC Deputy Sheriffs’ salary increase

Posted on July 18, 2014 by Editor Posted in John Moorlach, Labor, OC Board of Supervisors, Orange County, Pension Crisis, Sheriff Sandra Hutchens, Todd Spitzer Leave a comment

Photo from the OC Sheriff’s Department Facebook Page

Residents and Elected Officials Urge Approval of the Orange County Sheriff’s Deputies Contract

Deputies Will Cover 100% of Employee Pension Contribution

By Orange County Supervisor Todd Spitzer

Residents and elected officials attended the Board of Supervisors meeting this week to speak in favor of the Memorandum of Understanding with the Association of Orange County Deputy Sheriffs (AOCDS) for Peace Officer and Supervising Peace Officer Units. When the Board of Supervisors entered into negotiations with the Orange County Sheriff’s Deputies, their goal was to reduce taxpayers’ pension burden by having employees pay 100 percent of their employee retirement contributions. This contract achieves 100 percent pickup by all deputies.

Orange County District Attorney Tony Rackauckas and Tom Dominguez, President of the Association of Orange County Deputy Sheriffs attended the board meeting and spoke in favor of the agreement on Tuesday. Continue reading→