Tuesday, November 11, 2008

Oakland Cop Pension Plan Stinks

By Chris Thompson
Tue, Nov 11, 2008 at 9:32 AM

Chip Johnson's latest column doesn't really offer much today; Oakland's broke; the cops are running on a shoe-string budget; maybe this new data collection software will help, etc. But one detail near the end stood out like two grooms at a June wedding: the Oakland Police Department's unfunded pension liability is now almost $600 million. We hate to say we told you so, but we warned about the consequences of giving the cops a sweet new pension deal back in 2002. Why doesn't anyone listen to us? Could it be the beard down to our knees and the pencils we're selling out of this cup?

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