We were not honest. The whole system wasn’t honest. The city didn’t contribute the honest amount. Workers were not contributing the honest amount, and we winked at the public, yet left them with a problem because nobody had the leadership to be honest.”
Chicago Mayor Rahm Emanuel on Chicago’s Pension Problem*
Public pension costs are just now starting their relentless rise — California just doubled public school pension spending and will need to do so again and again — but the cause resides in a dishonest form of accounting adopted by public pension boards long ago, as explained here. Negative consequences include educational injustice and degraded public services.
Reforming California’s pension fund governance requires legislators with the intelligence and financial literacy to understand the problem, the temperament with which to craft a solution, the courage to take on the state’s most powerful special interests, and the willingness to present a reform to the state’s voters.
This November will be one of the most consequential elections for the state legislature in California’s history. Those elections can be influenced more by individual donations than by PACs or plutocrats. Organizations such as Govern For California can help you select exceptional candidates who can win.
Californians deserve educational justice and world-class public services for their tax dollars. You can help make that happen by donating to exceptional candidates for the California Legislature.