Fun Fact of the Day, February 20, 2018

CROWDING OUT OTHER EXPENSES - California's pension contribution is $8.5 billion during the current 2017-18 fiscal year for the defined benefit plans covering its 1.5 million state employees, both active and retired (i.e., general state workforce, police, firefighters, highway patrol officers and teachers).  The pension contribution was just $1.6 billion in 2002-03 and is projected to be at least $17.3 billion in 2029-30 (source: Stanford Institute for Economic Policy Research).