Every man, woman, and child in Brea owes as much as $5,500 to the City's employees and retirees. Are you ready to pay?
Join Brea First on Thursday, May 12 at 6:30 pm at the Brea Museum as we discuss the City's unfunded pension liability and options for reform with experts from the Reason Foundation.
If Brea's pension investments at CalPERS earn a 7.5% return, we owe $84 million. If they make 6.5%, it's $130 million. If it's 4.5%, we owe $234 million. Whatever the return, you're on the hook for it all.
If we don't fix our pension system, we'll be forced to cut essential services like police, fire, parks, senior, and other city services. If the city goes bankrupt after all those cuts are made, retirees might lose their pensions, too.
Let's figure out how to fix Brea's pension system so that dark day doesn't come and we can learn to live within our means as a city.
Pete Constant and Truong Bui from the Reason Foundation, a think tank, have analyzed Brea's pension system and will report on its current status and pathways toward reform. They recently helped the State of Arizona craft its pension reform, so their expertise will come in handy for Brea.
Pete Constant, Senior Fellow, Pension Reform Project (Bio and recent articles)
Truong Bui, Policy Analyst, Pension Reform Project (Bio and recent articles)
- May 12, 2016 at 6:30pm – 8:30pm
495 S Brea Blvd
Brea, CA 92821
Google map and directions
- 19 people are going