Pension Analyst Presents Devastating Financial Impacts Ahead For Six Northern California Counties Including Marin!

This presentation shows how  changes at Moody’s Investor Service and new pension accounting standards will unmask the staggering debt threatening vital community services.  John G. Dickerson, financial expert and author of two new reports on government pension accounting,  presents his alarming findings.
(Please see "Breaking News, Information and More" section for a copy of his Moody's report.

Please examine this property tax bill from Cook County, Illinois. (Click tax bill to enlarge). It provides details to property owners (taxpayers) about the government entities that the tax bill supports with total debts and liabilities, operating budgets, pension liabilities, unfunded pension liabilities and pension funding ratios.

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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

    Critics blast county's tax bill decision  - Marin IJ 4/16/13
    By Nels Johnson Read

    Supervisors want to keep taxpayers in the dark - Marin IJ 4/13/13
    Marin Voice By David Brown, CSPP  Read

    Marin supervisors urged to make tax bill more informative  - Marin IJ 3/19/2013
    By Nels Johnson Read

    Local public pension forum draws a large turnout - Marin IJ 3/13/2013
    By Dick Spotswood Read

    San Rafael's pensions are not in good shape - Marin Voice 2/3/2013
    By Bob Bunnell and Mark Friedlander CSPP  Read

    The Pension Fund That Ate California -  City Journal, Winter 2013
    CalPERS’s corruption, insider dealing, and politicized investments have overwhelmed             taxpayers with debt.  By Steven Malanga Read

    Unions sue to block Marin pension reform Marin IJ 1/24/13
    By Nels Johnson Read
   
    Ending California’s Numbers Game
    New rules and more audits should make the pension crisis harder to hide. 1/22/13
    by Tim Cavanaugh - City Journal Read

     Moody's Impact on Unfunded Pension Calculations. 1/3/2013
    by John G. Dickerson, YourPublicMoney.com
    Moody's Investor Services is one of the nation's major credit rating firms. This powerful         report looks at why changes in Moody's analysis of the creditworthiness of local and             state governments demonstrate the major threat to Marin and other local counties due to     unfunded pension debt. This report will be presented to the public in an upcoming event!     Read

    Missed Opportunities - What the Marin Board of Supervisors Didn't Do With the New     Pension Reform Tools - 12/18/2012 by David Brown CSPP Read

    John & Ken Show Discussing Gov. Browns Pension Reform Plan Impact
    -KFI Radio 8/29 Listen
   
    Demand real Pension Reform - Marin IJ 8/12/12
    By Jody Morales Read

    Taxpayers covering Legislature's bad debt -  SF Chronicle 6/19/12
    By David Crane. Read
   
    State Politicians and the Public Pension Cookie Jar - WSJ  6/8/12
   By Steven Malagna Read

    Next steps to solve pension mess - Marin IJ 4/10/12
    By Michael Lotito Read

    Marin County's escalating pension costs rooted in 1970s 'scandalous' fiscal
    deceptions
    Marin IJ 3/31/2012 Read

    The Democrat Who Took on the Unions - WSJ 3/24/12
    R.I. Treasurer, Gina Raimondo, talks about how she persuaded the voting public, labor         rank-and-file and a liberal legislature to pass the most far-reaching pension reform in             decades. Read

   Over-the-top overtime pay - Marin IJ - 2/10/12
    By Bob Stephens Read

    Supervisors back governor, giving pension reformers a victory - Marin IJ - 12/11/11
    By Dick Spotswood  Read
   
    Public pressure needed to push pension reform - Marin IJ - 11/20/11
    By Dick Spotswood  Read
   
    Pension Debate is About Resources - Marin IJ  - 11/7/11
    By Dave Brown & Jody Morales - Guest Op-Ed. Read

    Ford takes on pension reform - Marinscope - 9/21/2011
    By Chris Rooney -  ". . . pension reform is gradually gaining support." Read

    Pension changes can't wait - Sacramento Bee - 8/28/11
    By Daniel W. Hancock, chairman of the bipartisan Little Hoover Commission. Read

    Marin County pension reform fight continues
    Marinscope Newspapers 8/17/11 Read

    Critics flay Marin County pension program
    Marin IJ Article - 8/9/2011 Read

    Catching up hard when pensions are underfunded
    David Crane, SF Gate 7/29/11 Read

    Citizens group to county: Reform pensions or face ballot measure - Marin IJ 7/21/11
    Citizens for Sustainable Pension Plans in the news. Read

    Pension Report Released - 6/22/11  
    The Marin County Council of Mayors and Councilmembers has released a study that defines the     problem and local solutions. View Report