Metropolitan Water District Unfunded Liability Exceeds $600M

Bradley J. Fikes Bradley J. Fikes 6 Comments

A new story of mine at the North County Times gives the deets: Metropolitan Water District, Southern California’s biggest water wholesaler has accumulated more than $600 million in unfunded liability for retirees since 1999. The analysis comes from a new report issued Tuesday by a local taxpayers’ group, San Diego Taxpayers Educational Foundation. Customers of Metropolitan, or taxpayers, will ultimately …

Honest pension liability accounting will bring needed change

Richard Rider, Chairman, San Diego Tax Fighters Richard Rider, Chairman, San Diego Tax Fighters Leave a Comment

Posted on my blog: RiderBlog.NotLong.com It appears that reality finally is coming to the arcane field of government pension accounting. So why should you care? Consider the following. If (as the Dan Walters article below suggests) we start getting really serious about fully accounting for the unfunded liability of government pensions, bankruptcy can’t be far behind for many local jurisdictions. …