Trouble Brewing in Los Angeles. Policy Brief
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| Title: | Trouble Brewing in Los Angeles. Policy Brief |
|---|---|
| Language: | English |
| Authors: | Buck, Stuart, Foundation for Educational Choice |
| Source: | Foundation for Educational Choice. 2010. |
| Availability: | Foundation for Educational Choice. One American Square Suite 2420, Indianapolis, IN 46282. Tel: 317-681-0745; Fax: 317-681-0945; e-mail: info@edchoice.org; Web site: http://www.edchoice.org |
| Peer Reviewed: | N |
| Page Count: | 4 |
| Publication Date: | 2010 |
| Document Type: | Reports - Evaluative |
| Descriptors: | Urban Areas, Budgets, Retirement, Costs, Retirement Benefits, Educational Finance, Police, State Government, Government Employees, Health Care Costs, Public Policy |
| Geographic Terms: | California |
| Abstract: | The city of Los Angeles will face enormous budgetary pressures from the growing deficits in public pensions, both at a state and local level. In this policy brief, the author estimates that Los Angeles faces a total $152.6 billion liability for pensions that are underfunded--including $49.1 billion for the city pension systems, $2.4 billion for retiree health benefits, and an estimated $101 billion share of unfunded liabilities for California state retiree benefits. These estimates are made by correcting the state and local pension plans' figures, which use a too-optimistic assumption that their investments will grow by about 8% per year for the indefinite future. Unless state and city pensions are brought under control, these skyrocketing costs could easily force Los Angeles to limit or forgo many other important public expenditures, such as road repair, schools, and healthcare. (Contains 10 endnotes.) [For related reports, see "Trouble Brewing: The Disaster of California State Pensions. State Research" (ED517459); "Trouble Brewing in San Francisco. Policy Brief" (ED517460); "Trouble Brewing in Orange County. Policy Brief" (ED517462); and "Trouble Brewing in San Diego. Policy Brief" (ED517463).] |
| Abstractor: | ERIC |
| Entry Date: | 2011 |
| Accession Number: | ED517461 |
| Database: | ERIC |
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