My home town surprises to the upside

My town survives the Pension Tsunami, but my county still screws the pooch. 

Today, Transparent California released 2015 pension payout data from the City of Fresno Retirement Systems (CFRS) — the first time this information has ever been made available to the public.

The CFRS is the only major California public pension plan with a funded ratio over 100 percent and, consequently, enjoys a $289 million surplus rather than contributing to the state’s approximately $300 billion in combined unfunded liabilities.

As a result, the City of Fresno has avoided the pension crisis currently sweeping the state — which is forcing many governments to hike taxes and reduce government services as they spend a growing percentage of their budget on pension debt.

And the county:

At only 76 percent funded and with nearly $1 billion in unfunded pension liabilities, the Fresno County Employees’ Retirement Association (FCERA) is more representative of the precarious situation most California governments are facing.