Community Stakeholder Survey Says

Tonight the Fullerton city council will pretend to go over the results of the Community Stakeholder Survey that just recently wrapped up. Remember that survey? It’s where the city is going to, and I quote: For the next strategic planning session, the City will conduct a community stakeholder survey prior to working with the City […]

A Fullerton Staffing Question

The Fullerton Firefighters are pushing a narrative that they’re understaffed and underpaid on social media, so let’s talk about it. We constantly hear about how underfunded, unpaid, underappreciated, undereverything our Police and Fire Depts are from the “Hero Deserve” crowd and the opposite side likes to point to pay rates, pension spiking, double dipping, medical […]

One of the Worst Decisions

Your Fullerton City Council majority — consisting of Fitzgerald, Chaffee, and Silva — made one of the worst decisions in recent memory last night. Desperate to protect their pensions, and to keep pension contributions at a minimum, the Fullerton Police Officer’s Association (FPOA) approached the City about extending their contract.  They voted yes. CalPERS pension […]

Fitzgerald’s 5 Year Deception

At last night’s Fullerton City Council meeting (21 March 2017) I spoke on Agenda Item 3 regarding budget strategies. Amongst other comments I asked for clarification on what was meant by “Structural Deficit” considering that both Fitzgerald and former Councilwoman Jan Flory constantly claimed we have/had a balanced budget. I asked what changed overnight to […]

Some Numbers

It’s almost April. Our wise and courageous city council is already wading through wage negotiations with the city employee unions for the upcoming budget year. How did we get this far without adding up Fullerton’s total unfunded pension obligation? Oh well, here it goes… Pension Plan Total Liability Market Value of Assets Unfunded Liability Fullerton […]

CalPERS Delays Scary Pension Reports Until After the Election

A senior CalPERS attorney just told me that the annual pension liability reports for local agencies, which are normally distributed every October, have now been delayed until after the November elections. The delays are allegedly due to furloughs, but conveniently prevent local pension watchdogs from using the data to promote fiscally conservative candidates and pension reform […]

Fullerton’s Real Unfunded Pension Liability: At Least $60 Million

Last year CalPERS reported that the city of Fullerton is facing an unfunded pension liability of $37,531,831 on our public safety employees’ retirement plan. That’s the amount that we currently owe our public servants above and beyond all future budgeted payments. Of course, many professional actuarials believe that CalPERS’  figures are purposefully understated. They’re just […]

The $215,000 Man

What valuable piece of manpower is worth paying over $200,000 per annum not to do anything? If you guessed former Fullerton Police Chief Patrick McKinley you’d be right on the money. If there was ever a poster boy for out of control police pensions it would be Chief McKinley. See, the big guy pulls down […]

Teachers’ Pension Fund Lying Low, Set to Explode

Certain Fullerton school board members have taken issue with our characterization of the CalSTRS teachers’ pension system as being underfunded and unsustainable.  Our resident pension expert suggests that that the board may be reading a few too many rose-colored newsletters emanating from the retirement system itself. Perhaps some illumination is necessary. Before the market crash, […]