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Contra Costa Taxpayers Association

Issue Updates & Perspectives

  • Happy 35th Anniversary Prop 13!

    06 Jun 2013 11:17 AM | Deleted user
    Since it has been 35 years, a lot of people are unaware of the reason behind it. Property tax rates were rising so quickly that people were actually losing their homes. Now all property owners in California can take comfort in the fact that their property tax increases are limited. Think what would be happening now with the public employee issue if all government had to do was raise the taxes to cover any expenses.

    In the words of the great Howard Jarvis “Death and taxes may be inevitable, but being taxed to death is not.”

  • CCCERA - the county retirement system drops its assumed rate of return to 7.25%

    11 Apr 2013 9:52 AM | Deleted user
    This will take effect starting July 1, 2014.  Yes, that number is still way too high and even the actuary's methodology came up with 7.09% (still too high).  This impact of dropping the rate is that the pension cost increases for both the employer and employee because it assumes the money that is being invested is earning less to help pay the cost of pensions.

    The problem with having a rate that is too high is that any shortage in earning becomes the sole responsibility of the employer. That means reduced service levels.


  • California Common Sense has done a new case study on the California Budget

    21 Feb 2013 6:00 AM | Deleted user
    The case study compares the 2007-08 budget with that of 2013-14. What it reveals is that even thought the revenue is $10.8 billion greater in 2013-14, the allocation of the dollars are very different. This is a quick, but informative read with useful charts. 

    The study can be found at:   http://cacs.org/ca/article/62

  • The Pension Fund That Ate California

    19 Feb 2013 9:37 AM | Deleted user
    CalPERS' corruption, insider dealing and politicized investments have overwhelmed taxpayers with debt.  This City Journal article thoroughly explores the issues.

    Author Steven Malanga is the senior editor of City Journal and a senior fellow at the Manhattan Institute. His latest book is Shakedown: The Continuing Conspiracy Against the American Taxpayer.

  • CalSTRS (the teachers pension system) need $4.5 billion per year to fund over 30 years

    07 Feb 2013 11:38 AM | Deleted user
    The trust fund that provides pensions to retired teachers has a $64 billion deficit and would need a $4.5 billion per year infusion of revenue to become fully solvent, according to a new internal study. The California State Teachers Retirement System produced the report in response to a legislative resolution. Its release came just days after the Legislature's budget analyst, Mac Taylor, indirectly chided Gov. Jerry Brown for ignoring "huge unfunded liabilities associated with the teachers' retirement system and state retiree health benefits" in his new budget. 

    The $4.5 billion is a 75% increase over the present 6 billion.

  • Debate Heats up over public pensions and the assumed rate

    07 Feb 2013 11:15 AM | Deleted user
    Why is that rate so critical?  Because if it is too high (such as Contra Costa and its 7.75%) then too little is collected from the employees and the employer on the assumption that earnings will cover more of the ultimate pension cost.  In Europe they are using on the average of 3-4%.  In the US, a tidal wave was set off when Indiana had the temerity to go down to 6.75%.  But the underfunding is rapidly sucking the life out of local and state budgets.

    See this great article in Institutional Investor:

    http://www.institutionalinvestor.com/Article/3150302/Investors/Debate-Heats-Up-over-Public-Pension-Fund-Discount-Rates.html?ArticleId=3150302&p=3#.URP-D6U738c

  • The city of Morgan Hill signs with the state fire providers, Cal Fire

    07 Jan 2013 1:00 PM | Deleted user

    This is one way to reduce the pension and salary costs. Others should consider it.

    http://sanfrancisco.cbslocal.com/2013/01/05/morgan-hill-is-first-city-to-sign-fire-service-pact-with-cal-fire/

  • Despite the Bankruptcy, Stockton still has many police recruits

    21 Dec 2012 11:48 AM | Deleted user

    The argument made for having to have immense pensions in order to attract personnel has been given a blow by the number of police recruits vying for spots in the bankrupt City of Stockton. See the story below:

    http://www.recordnet.com/apps/pbcs.dll/article?AID=/20121215/A_NEWS/212150317

  • Contra Costa County Fire District gets additional play in this posting

    21 Dec 2012 11:42 AM | Deleted user
    http://unionwatch.org/the-financial-arsonists-of-contra-costa-county/

  • NPR came to Contra Costa to look at the Cost of Firefighting services

    20 Dec 2012 12:28 PM | Deleted user

    The results might surprise you. I not only spent some time with the NPR folks, but I also sent them material. 

    http://www.npr.org/blogs/money/2012/12/18/167265874/episode-424-how-much-is-a-firefighter-worth

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