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The City of Milpitas Faced with a Pension Tsunami

Original post made by Rick on Dec 4, 2010

This article is a must read for anyone interested in pension reform.
The city of Milpitas, grappling with an 11 million dollar defecit, has directed a 6 member study group to come up with recomendations.
Their reccomendations are long overdue and can be used as a framework to deal with Pleasanton's looming public employee pension crisis.

Web Link

Comments (6)

Posted by Concerned, a resident of Another Pleasanton neighborhood
on Dec 5, 2010 at 8:52 am

Bart, Have you checked this out? Looks like everyone is in the same mess. Muni bonds are taking a big dive and that will also force the issue. I see Arnold is trying to cut $6 billion more.


Posted by Bart Hughes, a resident of Foothill High School
on Dec 5, 2010 at 12:26 pm

Yes I did - thanks for posting. FYI, I follow pensiontsunami.com on a regular basis and they provide a nice daily outline of the major topical stories.

Pleasanton is not alone and this has been an issue that has been growing for many, many years - even before the most recent financial crisis. However rather than sit around and complain about the grave general situation, I decided to try to do something locally to effective positive change.

I do plan on joining in the spring the City financial planning taskforce per Mayor Hosterman's posting on the other blog and I urge everyone else who is concerned to get involved in whatever way you can. Otherwise, status quo will continue - status quo being public employees being shielded from making significant sacrifices while Pleasanton taxpayers continue to foot the majority of the bill and suffer through reduces services.

Please get the word out that the City is going to try to slide through another employee contract in early January prior to this indepth study they are planning. This is problematic in that it will restrict what the city can do for another multiple year period to address the situation.


Posted by Rick, a resident of Vineyard Hills
on Dec 6, 2010 at 4:40 am

One of the recomendations in Milpitas is for public review of city contracts so they can't "slide through" multi year deals.

Since we do not have such a system in place, it is paramount that the council be challenged at the next board meeting.


Posted by Bart Hughes, a resident of Foothill High School
on Dec 6, 2010 at 8:30 am

Rick - You are spot on. People need to voice their opinions on this issue at the Council meeting this Tuesday 7pm. Otherwise we will likely end up with another multi-year deal with minor concessions.

We need to demand:
- Earlier publication of contract to public (right now we won't see it until 12/31/10)
- Longer period of time to review and provide comments (right now it will be presented on 1/4 and voted on 1/18.


Posted by Rick 2, a resident of Another Pleasanton neighborhood
on Dec 6, 2010 at 5:07 pm

We keep electing criminals who give away money. Yes they are criminals.


Posted by Shoot_The_Messengers, a resident of Del Prado
on Dec 9, 2010 at 3:16 pm

Shoot_The_Messengers is a registered user.

Thanks for the link Rick! Your alert got me into looking deeper into this pension thing. See my recent post on the history of how we got here. Web Link

I haven't followed Pleasanton politics, so I don't know if the Mayor or council have the fortitude to take this issue squarely on. I hope they don't "kick the can" down the road. That seems to be what has happened over the past years as this issue was clearly visible to the bean counters.

I wonder if others in Pleasanton are concerned as well? It is the same pension situation that pushed Vallejo into bankruptcy in 2008. I wonder if their citizens were sounding the alarm before it got so bad they had to go BK?

Most folks may think, "20% of the budget spent on pensions isn't SO bad...why rock the boat and force all involved into tough decisions?"


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