California doubles down on pension debt — and dares Congress to bail it out
On July 1, California’s Assembly Appropriations Committee advanced AB 1383, a bill that guts the pension reform Sacramento passed in 2013 to keep its own promises honest. It would drop the public safety retirement age from 57 to 55, invent a new 3%-at-55 benefit formula, and let cities bargain away the cost-sharing rules that reform required. CalPERS already carries more than $179 billion in unfunded liabilities.
- ▪On July 1, California’s Assembly Appropriations Committee advanced AB 1383, a bill that guts the pension reform Sacramento passed in 2013 to keep its own promises honest.
- ▪It would drop the public safety retirement age from 57 to 55, invent a new 3%-at-55 benefit formula, and let cities bargain away the cost-sharing rules that reform required.
- ▪CalPERS already carries more than $179 billion in unfunded liabilities.
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| Original publisher | Washington Examiner |
| Canonical URL | https://www.washingtonexaminer.com/op-eds/4658992/california-pension-debt-congress-bail-out/ |
| Publication time | Thu, 23 Jul 2026 14:00:00 +0000 |
| Retrieval time | 2026-07-23T14:14:18.643Z |
| Last seen | 2026-07-23T14:14:18.643Z |
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Opening excerpt (first ~120 words) tap to expand
On July 1, California’s Assembly Appropriations Committee advanced AB 1383, a bill that guts the pension reform Sacramento passed in 2013 to keep its own promises honest. It would drop the public safety retirement age from 57 to 55, invent a new 3%-at-55 benefit formula, and let cities bargain away the cost-sharing rules that reform required. CalPERS already carries more than $179 billion in unfunded liabilities. California’s total state and local pension debt tops $200 billion. Sacramento’s answer, apparently, is to promise more.Congress should not wait to find out how this ends. It should pass a federal fiduciary floor for public pensions now, paired with a permanent statutory bar on any future federal bailout of a plan that fails to meet it.
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