Toro
Diamond Member
- Thread starter
- #101
Returns are not going to return to high enough levels to cover the $500B gap.
The state of California's real unfunded pension debt clocks in at more than $500 billion, nearly eight times greater than officially reported.
That's the finding from a study released Monday by Stanford University's public policy program, confirming a recent report with similar, stunning findings from Northwestern University and the University of Chicago....
How did we get here? The answer is simple: For decades -- and without voter consent -- state leaders have been issuing billions of dollars of debt in the form of unfunded pension and healthcare promises, then gaming accounting rules in order to understate the size of those promises. ...
California's $500-billion pension time bomb - Los Angeles Times
Like I said earlier in this thread, its not a $500 billion liability, nor do the low returns of the past decade and coming decade represent that total returns that will accrue to the pension fund over the life of the fund, which will last far beyond when you and I have passed.
http://www.usmessageboard.com/economy/143594-california-economy-4.html#post3016999