Public Employee Unions Rule California
Expect more strikes, fewer government services, and more tax increases to pay for pension obligations.
Pension Crisis
Don't Let Culture Wars Weaken the Financial System
In California, officials are pushing pension funds to divest from fossil fuels, firearms manufacturers, and tobacco companies. Red states are retaliating. This is madness.
No Mass Transit Grants for California, Biden Administration Rules
California, which offers some of the most generous pension benefits in the country to its public workers, apparently isn't paying them handsomely enough, the federal Department of Labor says.
Biden's Pick To Run the Commerce Department Is No Progressive
Rhode Island Gov. Gina Raimondo seems unlikely to double down on the past four years of economic foolishness at the Commerce Department.
Illinois' Population Drain Continues for 7th Consecutive Year
The tax- and corruption-heavy state has lost a quarter-million people in the past decade.
California's Top Court Rules Against Pension Spiking
The decision will make it harder for government employees to abuse and milk the state’s retirement systems.
How the Coronavirus Bailout Is Like the Marvel Cinematic Universe
Yes, the Reason Roundtable podcast has gone quarantine-crazy.
The COVID-19 Economic Collapse Is Absolutely Wrecking State Pension Systems
With some investment returns likely falling as far as 15 percent, states are going to face a cumulative pension debt of between $1.5 trillion and $2 trillion by the end of the year.
Illinois Spent the Last Decade Losing Population and Learning Nothing
Our most troubled state enters 2020 having lost residents for six years in a row.
What, Us Worry? California Lawmakers Still Ignoring Dark Pension Clouds.
The guiding principle for California policymakers seems to be: Tell everyone what they want to hear—or at least stick to the rosiest scenarios.
It's Not a Mystery Why America's Biggest Cities Are Losing Population
Chicago, Los Angeles, and New York City all have some easily identifiable management problems.
Illinois Is the Canary in the Pension Coal Mine, Says Adam Schuster
Mike Riggs talks with Illinois Policy Institute's Adam Schuster about how to fix the state's pension debt crisis.
Mass Protests Force the Resignation of Puerto Rico's Scandal-Plagued Governor
The island's residents have had enough of a territorial government tainted by corruption and that is seemingly contemptuous of their daily struggles.
Illinois Passes Constitutional Amendment to Allow a Progressive Income Tax
Voters will decide next year whether to impose it.
California's 6-Figure Pension Club Has Doubled in Size Since 2012
Last year, CalPERS issued 30,969 pensions checks worth $100,000 or more on an annualized basis—up from about 14,600 six-figure payouts in 2012.
Doctor Convicted of Child Abuse Still Getting $100,000 Annual Taxpayer-Funded Pension
The laws governing public pensions allow for horrible people to collect government benefits.
California Supreme Court Dodges a Hard Call in Pension Ruling
One pension-spiking tool can be scaled back now, but the California Rule remains intact.
Companies Should Avoid States With Huge Pension Debts, Warren Buffett Warns
A candid picture of how investors see the slowly unfolding pension crisis
A Charter School Moratorium Will Not Fix What Ails L.A.'s Education System
The district's budget is broken, and the latest deal with the unions will make it worse.
Can Public Pensions Survive the Next Recession?
"Public pension systems may be more vulnerable to an economic downturn than they have ever been."
Coach Nick Saban Could Get a Huge Pension, Courtesy of Alabama Taxpayers
America's highest paid public employee might win another college football national title, but he's also a good argument for pension reform.
Illinois Bleeds Population for Fifth Year in a Row
Skyrocketing debt and pension obligations make for a tough labor environment.
Finding a Cure for Our Fiscal Insanity: Podcast
Peter Suderman, Len Gilroy, and C. Boyden Gray diagnose the country's many fiscal woes, and offer some solutions, at Reason's 50th anniversary celebration.
Kentucky Launches Special Session to Deal With State's Public Pension Crisis
"We have a legal and moral obligation to provide and deliver on the promises that have been made," says Gov. Matt Bevin, who called the session Monday.
In Los Angeles, Massive Payments to Retirees Don't Even Count as 'Pensions' Anymore
A heavily abused program breaks the limits of what the IRS allows, leaving taxpayers even further on the hook.
Chicago Mayor Proposes Dealing Drugs, Gambling to Make Ends Meet
Rahm Emanuel wants pot legalization and a casino so the city can grab more taxes for its pension debts.
Chicago Mayoral Candidate Wants To Settle City Debts by Taxing the Neighbors
The Windy City is bleeding population. A commuter tax is most certainly not going to help.
The Public Sector Pension Crisis
Will your state pay what its politicians promised? Almost certainly not.
L.A.'s New Police Chief Pretended To Retire and Got $1.27 Million for It
Cash-in on a controversial, costly program from city's new top cop.
How Elected Libertarians Are Making the World More Free
From occupational licensing reform to legalizing beer-drinking on stage, elected Libertarians are doing some pretty interesting things
How to Make a Pension Crisis Worse: N.J. Officials Want Back in, Without Paying for It
A bill would allow some officials retroactive access to potentially 10 years of pension payments. Guess who would be on the hook for it?
California Gov. Jerry Brown: 'A Lot of Cities Signed Up for Pensions They Can't Afford'
But he's leaving office without really addressing the state's massive public retirement problem.
America's Sinking Public Pension Plans Are Now $1.4 Trillion Underwater
Taxpayer contributions to pension plans have doubled in the past decade, but pension debt continues to increase.
What Jimmy Carter and Jerry Brown Can Teach Us About Deregulation
As we prepare for a new "era of limits," Democrats may need to reclaim their party's forgotten history of rolling back government.
It's Not Enough to Get Paid for Not Working: These L.A. Police and Firefighters Figured Out How to Double It
Meet the LAPD couple who made a cool $2 million off the city while hanging out at their condo in Cabo San Lucas.
Tiny California City's Firefighting Reform Could Be Model for Others
Dealing with the pension crisis.
Jerry Brown Finally Spends Political Capital to Fix Pension Crisis
The California governor is starting to take on the public-sector unions he has spent his career empowering.
Former Penn State VP Jailed for Sandusky Child Sex Scandal Gets $300K Annual Pension
One of the highest retirement payouts in the state. Pennsylvania is dealing with $70 billion in pension debt.
CalPERS Is Shocked—Just Shocked—To Find Cities Reeling Under Growing Pension Debt
California's pension fund looks to shift blame and avoid responsibility.
Neither Major Party Gubernatorial Candidate Has a Serious Plan to Fix New Jersey's Pension Crisis
The state has a $135 billion pension debt, but Phil Murphy and Kim Guadagno would rather spend the campaign's final days fighting the culture war.
California's Six-Figure Pension Club Has 62,000 Members
And seven retirees in Los Angeles pulled down more than $1 million each in retirement benefits last year.
After Several Major Tax Increases, Connecticut Still Can't Make Ends Meet
The bloated public sector is sinking the Nutmeg State.
Like Schools, Parks, Social Programs? Too Bad, Because Retirees Get Paid First
New report shows how California's pension obligations are crowding out spending on other things.
Cities Facing Fiscal Mess Plead With CalPERS as Pensions Consume Budgets
Local California officials warn of a looming disaster.
Chicago Alderman Proposes 'Super Ticket Writers' to Fill Budget Gap
Residents already face a stream of tax increases, largely to shore up pension funds.
University of California Blows Big Money on Gold-Plated Pensions
They are far from the only public institution in the state to do so.
The Hidden $700 Billion Debt Owed to Public Workers
The state pension mess is even worse than you think.
Huge Pension Fund Makes Example of Tiny California City
CalPERS strikes back against small towns and agencies trying to leave its system.