CALPERS' actuary is finally conceding what its board members and top executives can't bring themselves to say: The pension status quo has to die.

Ron Seeling said at a Sacramento forum that CalPERS and its member agencies were facing decades of “unsustainable pension costs of between 25 percent of pay for a miscellaneous plan (covering general employees) and 40 to 50 percent of pay for (police and firefighters) ... . We've got to find some other solutions.”

Seeling is the pension system's chief actuary, the man responsible for calculating pension costs for 1.6 million state and and local government employees. He has long defended the analysis that went into granting more generous pensions earlier this decade. So this is a huge admission.

Courtesy of SacBee.com