Stanford report finds that local government pension systems are $200 billion short

The Stanford University research team that shocked Sacramento this year by declaring that the state’s three pension systems are more than $400 billion underfunded has struck again, saying local government pension systems are nearly $200 billion short, according to the Sacramento Bee.

The amount of money in question is astounding.  Here in Orange County, the Orange County Employees’ Retirement system has more than $12 million in unfunded liabilities, and the second fastest growth in liabilities since 1996.

We are going to get stuck with that bill.

The Orange County Employers Association has spent a small fortune this year alone trying to elect politicians who will do their bidding.  They have failed at every turn.  They are rumored to have spent over four hundred thousand on the John Leos campaign for the Anaheim City Council.  He lost.  So did Anaheim Councilman Harry Sidhu when he ran as a carpetbagger for the 4th Supervisorial District.

And a union shill in Brea, Ric Clough, lost too, in a bid for the Brea City Council.

The voters it would seem are starting to wake up…

About Art Pedroza