SEPTEMBER 30, 2014
CSPP RELEASES "PENSION ROULETTE PART 2
DO YOU FEEL LUCKY"
Citizens for Sustainable Pension Plans has released a new report that demonstrates the dire financial condition of Special Districts in Marin
County as well as the Golden Gate Bridge District.
The report, which studied the following Special Districts concludes that the pension
plans and retiree benefits they offer are exorbitant and dangerously underfunded.
- Marin Municipal Water District (MMWD)
- North Marin Water District (NMWD)
- Novato Fire Protection District (NFPD)
- Marinwood Community Services District (MCSD)
- Golden Gate Bridge Highway & Transportation District (GGB)
Summaries of Pension Roulette 1 and 2
OCTOBER 6, 2013
We Must Solve Marin's Pension Crisis Now!
Marin Taxpayers may be obligated to pay under-funded retirement pension benefits that are estimated between $700 million and $1.2 billion.
The impacts of this pension disaster will be felt soon as Marin County struggles to meet its generous and unsustainable retirement promises amid declining property tax revenue, unrealistic investment projections, and more.
Public Sector retirement benefits have grown dramatically over the years thanks in large part to the political influence of labor unions. State workers routinely retire at 55 years old with pensions higher than their base pay for most of their working lives.
Pensions are at the center of what will be an intensifying fight for diminishing resources from which government can pay for schools, police and fire services
Sweeping Reforms Are Needed - Join CSPP
Agreement on The True Magnitude of the Problem