That Giant Sucking Sound? L.A.’s Money Going to Pensions

That Giant Sucking Sound? L.A.’s Money Going to Pensions
L.A. officials have long touted the city as a nationwide leader in public pension reform. Yet a Times analysis shows that L.A.’s retirement benefits are among the most generous in the country. They come with a high cost: Last year, pensions and retiree healthcare ate up 20% of the city’s general fund revenue, money that otherwise could have been used to house 25,000 homeless people or fix all the city’s broken sidewalks. The latest installment of our pension crisis series — a partnership of The Times, CALmattters and Capital Public Radio — lays out how we got here.

LA Times https://mail.google.com/mail/u/0/?hl=en&shva=1#inbox/15886fe7e60ef1e9
21 Nov. 2016 headlines email