Liberalism: Do You Agree We've Had Enough of It? Message Board

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Politics : Liberalism: Do You Agree We've Had Enough of It?

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To: TideGlider who wrote (82229)	4/7/2010 8:32:54 AM
From: lorne	1 Recommendation Read Replies (1) of 224717

Study: Pensions Underfunded By $500B Schwarzenegger: California Must Address Pension Debt April 5, 2010 kcra.com SACRAMENTO, Calif. -- A Stanford University study commissioned by Gov. Arnold Schwarzenegger said California's public pension funds are underfunded by as much as $500 billion. The estimated shortfall applies to the retirement systems for California state and local government workers, teachers and University of California employees. Analysts at those funds estimated their unfunded liabilities to be much lower. But a Schwarzenegger economist said they have been underreporting the gap between revenue and obligations. In a statement, the Republican governor said the study, released Monday, reaffirms the need to address the state's staggering pension debt.

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