Joe Nation of the Stanford Institute for Economic Policy Research will be visiting Fullerton tomorrow for a special presentation on Fullerton’s public pension and retiree medical liabilities.
Back in July I asked the city council to hire Joe Nation and the SIEPR to produce a comprehensive, independent report on Fullerton’s substantial pension debt and its projected impact on Fullerton’s financial future. While the full report won’t be available for a few more weeks, Joe has agreed to make a special presentation to the council at the Fullerton Public Library on Tuesday at 4:00 pm. The presentation will be recorded and posted online in a day or two. An agent of CalPERS will be on hand to present his viewpoint, as well.
With skyrocketing pension debt affecting cities throughout California and the nation, it’s important for Fullerton to understand where we are headed and what this city will lose if we don’t address these issues head-on. This independent analysis will be an important step towards the goal of reining in our debt and ensuring the city’s financial stability over the long haul.