#CalPERS is teetering on the brink….the #elitemedia bleats, but no one cares

Screenshot 2017-12-18 at 09.55.39The nation’s largest pension system is expected to adopt a funding plan this week that anticipates shortfalls during the next decade and then banks on exceptional investment returns over the following half century to make up the difference.

It’s an absurd strategy designed to placate labor unions, who want more public money available now for raises, and local government officials who are struggling to make annual installment payments on past debt CalPERS has rung up.

The California Public Employees’ Retirement System currently has a $153 billion unfunded liability, with only 68 percent of the assets it should have, largely because of similar, past hubris about investment returns.

Mercury News

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One comment

  1. Jerry is screaming about the Tax Reform Bill , BUT..he ain’t heard nothing yet folks when they start to cut the retiree’s monthly checks due to gross mismanagment and politcally correct investment in the green scam that barely makes payroll. MAGA !!!!

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