Friday, February 4, 2011

My home town is getting famous

Not surprisingly, Fresno County's pension obligations have skyrocketed, while county leaders have done little to contain the cost.
Says the local paper.
Done little to contain the cost? Their intention all along is to raise the cost, no one expects them to fix this, it is beyond their ability to fix.
The Bee just reported that the annual retirement contribution will increase 30% to $180 million on July 1.
Ten years ago they added a billion to the total costs, then ran off to Sacramento.
This only adds to the county's budget crisis. The Board of Supervisors didn't make plans for the added costs, even though it was known they'd be increasing. The supervisors are expected to hold a meeting on the pension problem this month to review their options.
Their only solution is the belly up.
It's time that the board declare a pension crisis in Fresno County. The lucrative retirement program is no longer sustainable. The board must ask employees to contribute even more to their retirements, while scaling back pension benefits.
It never was sustainable, folks smarter than a gnat's ass knew that ten years ago. Maybe Ray LaHood can offer us another fake Choo Choo train!

No comments: