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ERIC Number: ED517462
Record Type: Non-Journal
Publication Date: 2010-Oct
Pages: 4
Abstractor: ERIC
Reference Count: N/A
ISBN: N/A
ISSN: N/A
Trouble Brewing in Orange County. Policy Brief
Buck, Stuart
Foundation for Educational Choice
Orange County will soon face enormous budgetary pressures from the growing deficits in public pensions, both at a state and local level. In this policy brief, the author estimates that Orange County faces a total $41.2 billion liability for retiree benefits that are underfunded--including $9.4 billion for the county pension system and an estimated $30.8 billion share of unfunded liabilities for California state retiree benefits. These estimates are made by correcting the state and local pension plans' figures, which use a too-optimistic assumption that their investments will grow by about 8% per year for the indefinite future. Unless state and county pensions are brought under control, these skyrocketing costs could easily force Orange County to limit or forego many other important public expenditures, such as road repair, schools, and healthcare. (Contains 9 endnotes.) [For related reports, see "Trouble Brewing: The Disaster of California State Pensions. State Research" (ED517459); "Trouble Brewing in San Francisco. Policy Brief" (ED517460); "Trouble Brewing in San Diego. Policy Brief" (ED517463); and "Trouble Brewing in Los Angeles. Policy Brief" (ED517461).]
Foundation for Educational Choice. One American Square Suite 2420, Indianapolis, IN 46282. Tel: 317-681-0745; Fax: 317-681-0945; e-mail: info@edchoice.org; Web site: http://www.edchoice.org
Publication Type: Reports - Evaluative
Education Level: N/A
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: Foundation for Educational Choice
Identifiers - Location: California