No one knows how Santa Monica will pay the lavish pensions of former City Employees

The main problem is the City's current $461 million unfunded pension liability, which the City hopes to retire within 30 years. The City of Santa Monica pays over 200 employees more than $120,000 per year, and is notorious for overpaying its employees.

"We are not in a position of crisis, but a period of reshaping so we can meet environmental and social goals," said City Manager Rick Cole.

Read More: http://www.smobserved.com/story/2018/06/01/news/city-of-santa-monica-study-session-on-city-budget-ignores-elephant-in-the-room/3465.html