UNDERFUNDED PENSION SYSTEMS: TOUGH CHOICES LAY AHEAD FOR PENSION MANAGERS
Managers of some of Californian’s biggest public employee pension funds will face difficult decisions this year to shore up chronically underfunded pension systems. By anyone’s account both CalPERS and CalSTRS are significantly underfunded. That means that the pension systems do not have sufficient money, even assuming a set investment return ...Read More
TEACHERS’ PENSION FUND BILLIONS SHORT
The biggest pension fund for California teachers, CalSTRS, is experiencing a massive funding gap and the California Governmental Accounting Standards Board (GASB) is proposing new accounting rules for calculating the fund’s liabilities that will make those numbers even worse. CalSTRS currently has a funding gap of 56 billion dollars–the difference ...Read More
CalSTRS Response To Governor Brown’s Pension Reform
CalSTRS Response: http://www.calstrs.com/Newsroom/whats_new/pension_reform_response.aspx CalSTRS appreciates that Governor Brown has taken a very important step in addressing the critical and complex issues facing the state’s public pension systems. We look forward to receiving more detail on the proposal and having the opportunity to review it in depth. The most important reform ...Read More