Today, Transparent California released 2015 pension payout data from the City of Fresno Retirement Systems (CFRS) — the first time this information has ever been made available to the public.
The CFRS is the only major California public pension plan with a funded ratio over 100 percent and, consequently, enjoys a $289 million surplus rather than contributing to the state’s approximately $300 billion in combined unfunded liabilities.
As a result, the City of Fresno has avoided the pension crisis currently sweeping the state — which is forcing many governments to hike taxes and reduce government services as they spend a growing percentage of their budget on pension debt.
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