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04-20-11, 11:13 AM #1APB Guest
"California's public pension funds are not in danger of collapse"
Reader Rebuttal: Public pensions - Opinion - The Orange County RegisterCalifornia's public pension funds are not in danger of collapse, not now and not for the foreseeable future. A Boston College Center for retirement Research study shows that the state's public employee retirement system (CalPERS) has funds enough to continue to pay pensions at the current rate through 2064 if its investments earn 8 percent a year.
That's at or near the rate the fund has earned for the past 20 years (recession included). The same study finds the teachers retirement system (CalSTRS) with an even longer timeline, saying it will be able to make payments at least until 2100.
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04-20-11, 11:59 AM #2
Damnit, I'm hungry again.
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To bad Jerry Brown and the other libtards want to raid it. Most cities and counties are scrambling because retirement obligations are taking up a large chunk of their budget. They are laying off employees to be able to cover it.
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