Financial Adviser Makes the Case for a Municipal Task Force To Protect Pension Funds
In a Sacramento Bee opinion piece, Matthew Covington -- a managing director at financial advisory firm Conway MacKenzie -- wrote that the decisions by Vallejo, Stockton and San Bernardino in their bankruptcy cases to "assume their pension obligations in full" could be temporary. He argues that "[s]tate and local elected officials, policymakers and CalPERS should create a task force to forge a solution to help municipalities" avoid bankruptcy.
- "California Cities Need a Solution to Pension Mess" (Covington, Sacramento Bee, 12/4).