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Thread: Study: California Public Pensions Underfunded by Over $500B

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    Study: California Public Pensions Underfunded by Over $500B

    California's three major public pension funds are underfunded by more than half a trillion dollars, according to a report released Monday, the San Jose Mercury News reports.

    Gov. Arnold Schwarzenegger (R) commissioned the study, which was prepared by graduate students at the Stanford Institute for Economic Policy Research (Theriault, San Jose Mercury News, 4/5).

    The study examined:

    * The California Public Employees' Retirement System;
    * The California State Teachers' Retirement System; and
    * The University of California's retirement system (Walters, "Capitol Alert," Sacramento Bee, 4/5).

    The three systems serve about 2.6 million retirees (Bussewitz, AP/Ventura County Star, 4/5).
    Study: California Public Pensions Underfunded by Over $500B - California Healthline

    This is what happens when Politicians use the Government Money to promise people other peoples money in exchange for votes.

    And just think, Obama and Co. just did that nationally with Obamacare.

    We're ****ed.
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



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    Re: Study: California Public Pensions Underfunded by Over $500B

    Quote Originally Posted by MrVicchio View Post
    Study: California Public Pensions Underfunded by Over $500B - California Healthline

    This is what happens when Politicians use the Government Money to promise people other peoples money in exchange for votes.

    And just think, Obama and Co. just did that nationally with Obamacare.

    We're ****ed.
    The health care bill created pensions?
    He touched her over her bra and underpants, she says, and guided her hand to touch him over his underwear
    Quote Originally Posted by Lutherf View Post
    We’ll say what? Something like “nothing happened” ... Yeah, we might say something like that.

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    Re: Study: California Public Pensions Underfunded by Over $500B

    Quote Originally Posted by Deuce View Post
    The health care bill created pensions?
    It promises other people's money to care for you.

    College Education.

    "Healthcare"

    And to keep all this nice new free stuff... just don't vote Republican!
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



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    Re: Study: California Public Pensions Underfunded by Over $500B

    Quote Originally Posted by MrVicchio View Post
    It promises other people's money to care for you.

    College Education.

    "Healthcare"

    And to keep all this nice new free stuff... just don't vote Republican!
    So you're against pensions then.
    He touched her over her bra and underpants, she says, and guided her hand to touch him over his underwear
    Quote Originally Posted by Lutherf View Post
    We’ll say what? Something like “nothing happened” ... Yeah, we might say something like that.

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    Re: Study: California Public Pensions Underfunded by Over $500B

    I am.

    Pensions and health care slew the mighty giant we call General Motors. A few other giants too.

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    Re: Study: California Public Pensions Underfunded by Over $500B

    Quote Originally Posted by Gipper View Post
    I am.

    Pensions and health care slew the mighty giant we call General Motors. A few other giants too.
    Actually it was not the Pensions Plans that slew GM.
    Rather it was Union greed that demanded ever more from a weak and ineffective management.

    As Government Motors are now basically owned by the US Government and are run and managed by the Union, all of a sudden Wages have dropped dramatically, Pension will be similarly affected.

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    Re: Study: California Public Pensions Underfunded by Over $500B

    Quote Originally Posted by Deuce View Post
    So you're against pensions then.
    Government funded pensions that pay out far more then are put in, in effect giant ponzi schemes that leave the tax payers on the hook?

    YOU BET YOUR ASS I am.
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



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    Re: Study: California Public Pensions Underfunded by Over $500B

    Quote Originally Posted by Deuce View Post
    So you're against pensions then.
    You bet your baloney I sure am.

    20 years of labor with a potential of 30+ years of retirement benefits at 90% of your highest wage.
    Not only that but your spouse can draw your pension if you die.
    It's a rip off to every single non governmental worker.

    They are insanely lucrative, to the point of unsustainable.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
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    Re: Study: California Public Pensions Underfunded by Over $500B

    Quote Originally Posted by Harry Guerrilla View Post
    You bet your baloney I sure am.

    20 years of labor with a potential of 30+ years of retirement benefits at 90% of your highest wage.
    Not only that but your spouse can draw your pension if you die.
    It's a rip off to every single non governmental worker.

    They are insanely lucrative, to the point of unsustainable.
    Highest I've ever seen is 70%. GM offered that? I'm in the wrong business.
    I refuse to accept the view that mankind is so tragically bound to the starless midnight of racism and war that the bright daybreak of peace and brotherhood can never become a reality. - MLK

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    Re: Study: California Public Pensions Underfunded by Over $500B

    Quote Originally Posted by Hatuey View Post
    Highest I've ever seen is 70%. GM offered that? I'm in the wrong business.
    Seriously, all I get is a 401k.

    After they "retire" they can go into another field of government and earn another pension.
    I think that is more rare but the fact that they can is just beyond crazy.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
    —Adam Shepard

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