Our local scribe John Horgan has his "six-pack" of wishes for 2013 that does a nice job of mirroring my own. Mr. Horgan has been watching the local pension issue as well and has the following to say here
The latest extensive audit performed by the county's controller is somewhat encouraging on the subject of long-term public employee pension requirements. Still, the figures are rather stark. According to the report, county government (the county's second-biggest employer, by the way) has a long-term, unfunded public pension liability of 28 percent as of the close of the past fiscal year. Add in the public retirees' unfunded health insurance liability and the total dollar figure comes to about $1 billion. County supervisors have been trying to trim those costs but more work needs to be done.
Aside from the disappointing idea that the county is the second largest employer in the county, with a population around 727,000 the $1 billion figure runs about $1,375 per person. And that assumes they got the estimated rate of return even close to a real world figure. Sounds like a good place to put some of that "extra" Measure A cash.