Anaheim Lyster News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Unfunded Pension Liabilities ‘Crowding Out’ City Budgets in Orange County The significant burden of unfunded pension liabilities is severely affecting municipal budgets throughout Orange County, California, officials say, with some cities faring better than others. When cities are forced to spend more to cover pension costs, something else has to be cut from local budgets, according to former state Sen. John Moorlach. “It has impacted them with a problem that’s referred to as ‘crowding out,’” Moorlach told The Epoch Times. “You’re seeing a lot of cities making considerable staffing reductions,” including public safety staff. Public employee pension fund deficits are one of the most daunting problems faced by local governments. While some cities in Orange County have made substantial efforts to pay down these unfunded liabilities, others have not and are struggling to remain solvent.

United statesLaguna hillsDana pointStanford universityLaguna niguelCosta mesaFountain valleyHuntington beachLaguna woodsSanta margaritaLos alamitosYorba lindaOrange countyAliso viejoNewport beachGarden grove