Their full analysis is linked here.
Comment: This report is as garbled and obfuscated as the county’s own budget documents. For example, try to answer these basic questions: What is the total pension contribution budgeted for 2017 (not just the supplement contribution)? How does that compare to the ARC or ADC for the pension for 2017 — what are those numbers? Good luck finding them.
You need those numbers to see how badly the pension will continue to be underfunded. There’s plenty of historical data on that (the contributions were never close to adequate) but no forward information.
One good point that is clearly made is that using the sugary drinks tax to fund a supplemental pension payment is probably illegal. State law says the pension is supposed to be funded by property taxes only and the amount is capped. The supplemental payment exceeds the cap.