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Pension Problems...Here's A Look At California

California has two of the largest pension funds:  CALPERS and CALSTRS-these two funds provide benefits to thousands of California retiree's. 

California Governor Jerry Brown said he will propose changes to the most-populous U.S. state’s underfunded public-employee retirement plans.

The California Public Employees Retirement System, which covers state and local government workers, has no more than 70 percent of the assets it needs to pay for benefits over several decades, according to fund staff. The California State Teachers Retirement System as of June 30 could pay 78 percent of promised benefits, with an unfunded liability of $40.5 billion.

Posted on Wednesday, January 19 by Registered CommenterWise Owl in | Comments Off