Town Hall Los Angeles ? A Conversation with Richard Riordan and Dr. Lanny Ebenst

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Town Hall Los Angeles – A Conversation with Richard Riordan and Dr. Lanny Ebenstein

"What's at Stake for Cities and Citizens: A Conversation about Public Employee Compensation" between The Honorable Richard Riordan and Dr. Lanny Ebenstein, PhD, President, California Center for Public Policy.
How can Los Angeles confront its growing public pension costs?  Are there solutions that are both fiscally responsible as well as fair to public employees? Without reform, will Los Angeles face municipal bankruptcy like Vallejo, Stockton, and San Bernardino?
Riordan has said that the City of Los Angeles is at a "tipping point, risking bankruptcy, if it doesn't change its pension system quickly." He and Dr. Ebenstein will discuss the current status of Los Angeles public employee pensions, what can be done to improve the financial stability of the pension funds, and the city's fiscal future. Over the past decade, the cost to the city of public employee pensions has grown from $220 million to $1.2 billion and is projected to make up 26% of the city's general fund by 2016.

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