Comparing Various Cities

I decided to compare pensions and OPEB in various Tennessee cities and  counties and throw in San Francisco just to spice up the mix. This is not a complete analysis as that would take a long time and much more information research. However, I found some interesting things. Look at the charts below.

  Population Public Employees Public Retirees Pension Unfunded Liability
Shelby County 919137 6336 3187 31,297,000
Memphis 676640 7231 4525 531,004,000
TotalShelby County and Memphis 919137 13567 7712 562,301,000
Metro Davidson 635710 9199 6834 350,094,474
Knox County 439672 3055 ? 49,260,782
San Francisco 821790 28222 28993 493,919,000

 

  Number of disability recipients OPEB UnfundedLiability OPEB meansOther Post Employment Benefits Participants in OPEB, retirees and spouses
Shelby County 121 261,362,000 2305
Memphis 648 1,165,364,000 3697
TotalShelby County and Memphis 769 1,426,726,000 6002
Metro Davidson 1103 2,023,000,000 ?
Knox County ? 2,434,379 ?
San Francisco ? 4,264,273,000 ?

? Indicates information unavailable at this time.

Memphis and Shelby County have similar populations to San Francisco but we have over 150,000 public school students and they have 56,299. Obviously families with children can’t afford to live in SF. SF has 26,554 public employees and we have 13,567. Talk about too much government. Shades of Greece and Italy.

Metro Davidson has a reasonable unfunded pension liability of $350 million dollars but a huge unfunded OPEB liability of $2 billion dollars. Also look at their disability recipients of 1103 compared to ours of 769, most of which come from the City of Memphis. Disability scams are a big national and local problem.

Now take a look at Knox County, Tennessee. They have gone to defined contribution plans and different retiree health care plans and their fiscal numbers show these good decisions. Click here to see what they say in their current CAFR report.

 

One Response to “Comparing Various Cities”

  1. Shawn says:

    Well this matches up with the $75 to $110 trillion, yes trillions, of unfunded liabilites for the US Government!

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