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Richard Rider

Finally! CA NOT in worst 4 states in fiscal study (pension obligations)! Yea! Uhhhhh, however…

Recently I’ve been reporting more studies that rank CA the 2nd, 3rd or 4th worst in various fiscal comparisons with other states.  I imagine you are as sick of this dreary drumbeat as I am.

Good news!  Finally I found a study where California is not ranked in the top four – as in worst four.

. . .

Ya know, it’s not fair — youse guys know what’s coming next, don’t ya.  Bunch of smart asses.


To my point.  A new wonky academic study has been released, comparing the per household state and local government pension obligations.  It’s a grind to work through the 60+ pages of the study — even I didn’t read it all, or understand the actuarial math.

Let’s get to the bottom line.  As you weisenheimers cleverly deduced, while CA is not in the worst four — we are number five.

And here’s the figure to consider — if we make no reforms, then the average CA household will ANNUALLY owe $2,122.40.   Table A4 (the last page)

As the Big Spenders love to intone — “It’s only pennies per day!”  581 pennies per day, to be exact.

The range of the obligation is interesting.  The top obligation is owed by Ohio households — $2,552.90.  Then comes Oregon, New York and Illinois — with California bringing up the rear — of the top five.

Perhaps equally interesting is the pension cost increase for households in the least fiscally irresponsible (not necessarily fiscally responsible) states — Arizona, West Virginia, Arkansas, Utah and (the best) Indiana.  Households in these states owe amounts varying from $544 to $237 annually — about 1/4 to 1/9 the average annual CA household obligation.