News

PODCAST: Palo Alto's pension problem

On 'Behind the Headlines,' City Councilman Eric Filseth estimates the city owes current and future retirees $1 billion

Uploaded: Fri, Oct 13, 2017, 5:25 pm 0
Time to read: about 9 minutes

Slideshow

This graph shows Palo Alto's unfunded pension liability (the light blue line), which is projected to continue increasing. The green General Fund revenue line and red General Fund expense line track closely, showing the city is paying for its expenditures. Graphic courtesy Eric Filseth. See a PDF version at http://www.paloaltoonline.com/news/reports/1507940031.pdf

This graph shows the 10-year Treasury yield (orange line) and the CalPERS discount rate (blue line) against time. CalPERS is assuming a continued rate of return of 7 to 8 percent, even though interest rates have been falling since the 1980s. See a larger version of this graph at http://www.paloaltoonline.com/news/reports/1507940086.pdf Graphic by J. Bulow, Stanford GSB, courtesy of Eric Filseth.

Palo Alto is facing a pension and retiree medical liability that City Councilman Eric Filseth says approaches $1 billion. How is the city going to pay for it?

Hear his conversation with Palo Alto Weekly Editor Jocelyn Dong and city hall reporter Gennady Sheyner in this podcast version of "Behind the Headlines."

Or, read the transcription here. (Due to a technical issue, this week’s episode is not available in video.)

Webcasts are posted every Friday afternoon on PaloAltoOnline.com, as well as on Palo Alto Online's YouTube channel, youtube.com/paweekly.

Check out previous weeks' episodes:

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PODCAST: Palo Alto's pension problem

On 'Behind the Headlines,' City Councilman Eric Filseth estimates the city owes current and future retirees $1 billion

Uploaded: Fri, Oct 13, 2017, 5:25 pm

Palo Alto is facing a pension and retiree medical liability that City Councilman Eric Filseth says approaches $1 billion. How is the city going to pay for it?

Hear his conversation with Palo Alto Weekly Editor Jocelyn Dong and city hall reporter Gennady Sheyner in this podcast version of "Behind the Headlines."

Or, read the transcription here. (Due to a technical issue, this week’s episode is not available in video.)

Webcasts are posted every Friday afternoon on PaloAltoOnline.com, as well as on Palo Alto Online's YouTube channel, youtube.com/paweekly.

Check out previous weeks' episodes:

• Behind the Headlines: Gunn Students Speak Out on Mental Health

• Behind the Headlines: Planning for housing

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• Behind the Headlines: Stanford students' activism against sexual assault

• Behind the Headlines: Preserving retail; capping office development

• Behind the Headlines: Transportation tax; Fiber to the Premise

• Behind the Headlines: Fall Arts Preview

• Behind the Headlines: Police conduct on campuses; new parkland

• Behind the Headlines: Minimum wage; airplane noise

—

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