The State Worker

Chronicling civil-service life for California state workers

January 10, 2012
Governing magazine column blasts 'pension puffery'

Girard Miller, a frequent contributor to GOVERNING magazine and senior strategist at the PFM Group, has a few words for both sides of the pension debate in a recent column titled, "Pension Puffery: Here are 12 half-truths that deserve to be debunked in 2012."

Among the ideas that Miller takes on:

"The pension mess was caused by greedy people (from the other side), not us."
"There's no crisis. The stock market will recover and then there is no problem."
"The solution is to replace pensions with 401(k) plans, like the private sector."
"This is a $3 trillion problem when you measure it using honest (risk-free) math."
"The average public pension is $23,000."
The $100,000 pension club.

Click here to read Miller's column.

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About The State Worker

Jon Ortiz The Author

Jon Ortiz launched The State Worker blog and a companion column in 2008 to cover state government from the perspective of California government employees. Every day he filters the news through a single question: "What does this mean for state workers?" Join Ortiz for updates and debate on state pay, benefits, pensions, contracts and jobs. Contact him at (916) 321-1043 and at jortiz@sacbee.com.

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