In Richmond, Pension Woes Reach Boiling Point
A looming calamity in Richmond should serve as warning to other struggling municipalities.
A looming calamity in Richmond should serve as warning to other struggling municipalities.
Local governments across California are bracing for a more costly future thanks to mounting retirement obligations, and their residents are apt to experience cuts to local services on par with the 2008 recession as a result.
El Monte’s Mayor is discovering how hard it is to cut retirement benefits.
2017 is going to be a nail-biter for pension watchers.
A quarter of the city is living below the poverty line, but El Monte’s former city managers have more money than they know what to do with.