Tuesday, August 23, 2011

� California Admits to Almost $1 Trillion in Unfunded Pension Obligations - Big Government

� California Admits to Almost $1 Trillion in Unfunded Pension Obligations - Big Government: The three largest California public retiree plans (CalPERS, CalSTRS, and UCRS) that administer pensions of approximately 2.6 million State and Local public current and retired employees have been under tremendous scrutiny since last year’s release of the Stanford University Institute for Public Policy report: “Going For Broke”. The study concluded that California retirement plans liability was under-funded by over $500 billion.

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