Former assemblyman calls California’s pension plan a ticking time bomb

Former 38th District Assemblymember Keith Richman calls the rising costs of California’s public employee pensions a ticking time bomb that could send the state into financial ruin. ‘I think people are generally surprised and don’t know how bad the situation is,’ Richman said. ‘In fact, the majority of Californians still don’t even know we have an issue.’ Richman, a physician turned politician, continued his push for pension reform at a recent luncheon hosted by the Ventura County Taxpayers Association at Las Posas Country Club in Camarillo. ‘This is really the biggest fiscal issue facing the state of California,’ said Richman, who termed out as an Assembly member last year. ‘This money that’s going to go to pay for these skyrocketing pension costs and retiree pension costs is money that’s not going to education, higher education or our state’s infrastructure’. “