Wednesday, August 19, 2009

The Coming Pension Plan Tsunami

This website is interesting - see what is being written about regarding the upcoming problems for State and local municipalities as a result of unfunded, as well as the cost of funded pension accounts. The emphasis is on California in this website - but they also report on other States - and most States are suffering from the same budgetary problems as a result of unsustainable pensions and spending. There is also a section about Social Security. Jack Dean is the editor and publisher of
That approaching wave of pension debt is bigger than it looks. The purpose of this site is to provide an overview of the multiple pension crises that are about to drown America's taxpayers.

The home page includes all newsclips that have been e-mailed to subscribers on a daily basis.

The tabs at the top of the page provide a breakdown of all newsclips by category -- public employee pensions (government agencies), corporate pensions, social security (we aren't devoting a lot of time to this, since so many others are), and international trends.

There is also an associated blog called Pension Watch. is a project of FACT -- the Fullerton Association of Concerned Taxpayers. FACT's primary focus is on California's public employee pension and OPEB crisis, but we also monitor the world of corporate pensions and any developments in Social Security since it is taxpayers who will ultimately be responsible for making up deficits incurred by any of them. We also try to monitor international trends. FACT's president is Jack Dean.