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X-WR-CALNAME:California Arts & Sciences Institute
X-ORIGINAL-URL:https://casicalifornia.org
X-WR-CALDESC:Events for California Arts & Sciences Institute
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DTSTART;TZID=UTC:20261029T163000
DTEND;TZID=UTC:20261029T180000
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UID:6821-1793291400-1793296800@casicalifornia.org
SUMMARY:California Pension Bomb
DESCRIPTION:Come to CASI’s live event at 4:30pm Thursday October 29th for a deep dive into the risks for public workers\, citizens\, and taxpayers from California’s generous pension promises. We will discuss hidden costs and long-run implications already crushing city budgets. You will be shocked by how much the average citizen owes\, and how California’s infrastructure suffers. We will also discuss how the search for sustainable retirement systems forced the private sector and the federal government to transition from “defined benefit” to “defined contribution” (401K matching) type plans\, and how Social Security itself is at risk. \nMajor experts will provide key input to the CASI panel: Zachary Christensen\, who is an authority on California worker pensions; David Quinnert\, who has compiled the most exhaustive database on underfunding of Central Coast local government pension plans; Dale Byrne\, Mayor of Carmel; Francois Melese\, who is a nationally recognized economist\, and expert in pension matters. \nSpecific facts we shall delve into: \n\nCalifornia governments are over $250 billion short on pension promises. That debt amounts to about $13\,000 per taxpayer household\n\n\nThe cost of providing government employee pensions has risen by 50% since 2014\, and taxpayers bear the bulk of that new cost (86%).\n\n\nThe City of Monterey has to pay $14.7 million to CalPERS for its share of the system’s unfunded liability this year. This makes up 12% of the city’s budget.\n\nThere is a grievous inequity between the generous California Government Pensions versus and Social Security Benefits\, which can lead to government pensions being five to twenty times higher than a similar skilled worker in the private versus California public sector. \nThe event will take place at 430 pm\, October 29 at the Community Shared Space at the Carmel Barnyard. Complimentary appetizers and non alcoholic beverages will be served. \nTicket cost is $20 if you are not a current CASI Member. \n 
URL:https://casicalifornia.org/event/california-pension-bomb/
LOCATION:The Community Shared Space in the Carmel Barnyard\, 3756 The Barnyard\, Ste H23\, Carmel\, CA\, 93923\, United States
CATEGORIES:Speaking Event
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ORGANIZER;CN="California Arts & Sciences Institute":MAILTO:info@casicalifornia.org
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