The State Worker: California pension study authors respond to criticisms

The State Worker

Chronicling civil-service life for California state workers

August 12, 2011

California pension study authors respond to criticisms

Editor's note, Aug. 14: A broken link to Brad Williams' response to CalPERS' and CalSTRS has been repaired.

The tension over pensions continued today with the authors of the just-completed "California Public Sector Retirement Programs and Compensation" defending their study after unions and the state's two biggest pension funds all criticized it.

In May, after Capitol Matrix Consulting and the California Foundation for Fiscal Responsibility released the first two parts of their report, CalPERS and CalSTRS took aim at it. Those harsh criticisms resurfaced this week in an e-mail blast issued by union coalition Californians for Retirement Security on Thursday.

"It's no surprise that such a sensitive issue would elicit such over heated rhetoric," said former state Finance Director and Capitol Matrix partner Mike Genest (left). "However, if you look at what CalSTRS and CalPERS actually say about the report, you will see that they do not make any substantive claims that fundamentally attack its conclusions and findings."

Click here to see what CalPERS said.
This link opens the CalSTRS reaction.
Clicking here will download the response by the report's principle author and Capitol Matrix partner Brad Williams.

PHOTO: Mike Genest, former Schwarzenegger finance director listens to a question at a Sacramento Bee and Capital Public radio panel discussion on the state budget on March 23. / Hector Amezcua, Sacramento Bee

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