L.A. City News · @lacitynews
28th Feb 2011 from Twitlonger
DAVID ZAHNISER CONFIRMS SOURCE OF PENSION CRISIS IN L.A. TIMES! (NOW, maybe you'll believe me!): When Villaraigosa took office in 2005, public safety pension and retirement healthcare benefits consumed 4.4% of the general fund, which pays for basic services such as police, parks and recreation programs. That figure reached 9% this year and is expected to reach nearly 20% in 2015, budget analysts said.
Much of that growth has been attributed to plummeting investment returns in the city's public safety pension system during the recent recession. (As in all the PENSION FRAUD as blogged by Zuma Dogg in '07, '08 & '09, as it was happening.)
FULL ARTICLE: http://ow.ly/44wZW