California Taxpayers Expected To Nearly Double Public Pension Contributions Over Next 5 Years
The California Policy Center (CPC) has just updated it's annual study on pension contributions required from local California municipalities and, to our complete 'shock', the conclusions are brutal for Cali taxpayers. Among other things, the study found that California taxpayers will be forced to double their contributions to CalPERS over just the next 5 years alone from $5.3 billion in 2017/2018 tax year to $9.8 billion in 2022/2023.