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Surging pension costs push more California cities toward bankruptcy

FEBRUARY 5, 2018 | by Dan Walters | CALMATTERS (CALIFORNIA)

“…Lodi’s city manager, Steve Schwabauer, told CalPERS’ trustees, 'I have the unfortunate obligation to tell you that Lodi is on a slow, inexorable slide toward insolvency if you maintain your present course.' …  A new study for the League of California Cities, conducted by a consulting firm, Bartel Associates, projects that over the next seven years overall city pension costs, excluding health care, will nearly double …” 

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