Tag Archives: Sunnyvale Pension Reform

Pensions: San Jose Mayor Chuck Reed’s state ballot measure opposed by 19 mayors including Mayor Tony Spitaleri


By Mike Rosenberg

mrosenberg@mercurynews.com

After announcing a 2014 statewide pension ballot initiative with fellow mayors from around California, San Jose Mayor Chuck Reed has run into some opposition — from other mayors.

Nineteen mayors — along with two vice mayors, two county board of supervisors presidents and five additional council members — signed a letter to Reed on Tuesday urging him to abandon his effort that would see public employees pay more for their retirement.

CLICK HERE for the San Jose Mercury News article.

 

City of Sunnyvale Credit Rating Under Scrutiny


Sunnyvale Councilmember Pat Meyering probes the city for debts and billing receipts. A group of Sunnyvale citizens are advocating discussion with Sunnyvale City Staff about sensible and sustainable reform of the city pension system. City Manager Gary Luebbers states “we’re in good condition,” yet ratings agency Moody’s lists the City of Sunnyvale for a possible credit downgrade. If you haven’t read “Boomerang,” by Michael Lewis, please consider doing so.

10/11/2012_San Jose Mercury News, By John Woolfolk and Mark Emmons

CITIES UNDER SCRUTINY_MOODY’S RATING AGENCY

Los Gatos, which boasts a Rolls-Royce dealership, is among 30 California cities on the list for a possible credit downgrade from ratings agency Moody’s. So are Santa Clara and Sunnyvale, home to high-tech titans, and the East Bay’s tony Danville.   Continue reading

Exponential Rise of Pension Plan for Sunnyvale City Workers Prompt Residents to Take Action


“For the past four years, the city has been running in a budget deficit, and a significant reason for that is the growing cost of the city’s pension obligations,” according to Sunnyvale Pension Reform steering committee member Andy Frazer. “I don’t believe pension reform is a political problem; it’s simply a math problem, and I hope we can work together to resolve it.”

The Sunnyvale Pension Reform group has formed to represent the Sunnyvale taxpayers in dialogue between the City Council, city staff and city bargaining units to reign in unfair and unsustainable costs of the city’s pension plan.   Continue reading

Sunnyvale Taxpayers Liability to City Worker Retirement Pension Plans Exceeding the City Budget?


Are the current, rapidly rising Sunnyvale Pension Employee Plan sustainable? And, if so, at what cost and sacrifice to Sunnyvale Taxpayers?

Please review the comments comparing 2010 vs. 2011 from Andy Frazer presented to the Sunnyvale City Council Meeting on 11/15/11:

My name is Andy Frazer. Madame Mayor and City Council Members… A year ago I spoke here a few times about the biggest problem in Sunnyvale. The city’s employee pension program was too expensive, and absolutely unsustainable. Now, one year later, things have gotten much, much worse.   Continue reading