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"Over the six-year period from 2002 to 2008, the citys unfunded pension obligation to its retired employees more than tripled, ballooning from $9 million to $28.5 million. Petalumas situation is worse than most cities in California since its percentage of unfunded pension liability for public safety workers has traditionally tracked considerably higher than the state average."
Petaluma is just one city where the specter of bankruptcy is clearly on the table.
Sweetheart deals, between unions and the council members they "elected", is the cause. Like Vallejo, it will take a Judge to end the contracts and agreements that have create massive deficits.
Ask your city council, what is the unfunded liability of its pension plan for the City. Then decide who should replace the current crop of office holders.
Time for a revolution--in Sacramento, Washington and your home town.
More...
Petaluma is just one city where the specter of bankruptcy is clearly on the table.
Sweetheart deals, between unions and the council members they "elected", is the cause. Like Vallejo, it will take a Judge to end the contracts and agreements that have create massive deficits.
Ask your city council, what is the unfunded liability of its pension plan for the City. Then decide who should replace the current crop of office holders.
Time for a revolution--in Sacramento, Washington and your home town.
More...