GLENDALE PENSIONS took center stage and councilwoman Freidman and City Manager Ochoa continue to say they are fiscally responsible. Ochoa will tell the public we do NOT have $1.4 Billion in unfunded pension obligations. Ochoa said our unfunded pension debt was ONLY about $400 million. As usual, Ochoa and Friedman try to mislead the public. Actually, the $400 million represents only the already retired city employees pension debt. The larger unfunded pension debt for our children to pay is the $1.4 Billion for the approximately 1300 current city employees. Also, not mentioned by Ochoa or Freidman is the over $225 million in "Cadillac" post employee health insurance benefits for current retired employees.
wishful thinking investments.