CalPERS disputes doomsday scenario

Apr 6, 2010 Read more: LA Daily News
Pacheco said the policy brief by the Stanford Institute for Economic Policy Research also relies on methodologies out of sync with government accounting rules and actuarial standards of practice. Read more
A Reptile Dysfunction

Fairfield, CA

#1 Apr 7, 2010
["Our track record is clear: We have earned 7.9 percent return over the last 20 years, and that's the return that lifts the burdens of the taxpayer on pensions, and results in sound funding of our system," Pacheco said.
Currently, the Legislative Analyst's Office estimates state taxpayers are paying $17 billion to $18 billion a year to pay for public employee pensions and retiree health care costs, a tab that is increasing at a rate of several billion dollars a year.]

Yeah, 18 billion is not a burden on taxpayers ?
Think again, Pachuco.
Old School

Waianae, HI

#2 Apr 7, 2010
At least the pensioners are citizens, earned their money and paid taxes unlike the billions spent on illegal aliens.
A Reptile Dysfunction

Fairfield, CA

#3 Apr 7, 2010
Old School wrote:
At least the pensioners are citizens, earned their money and paid taxes unlike the billions spent on illegal aliens.
True, except for the part about all of them earning their money.

Probably half of them actually earned it.

But they did pay taxes on what they got.
Waddell

Los Angeles, CA

#4 Aug 4, 2010
California is running a MegaLotto at the expense of all taxpayers, most of whom will never see such pension amounts. It is HIGHWAY ROBBERY and these politicians are COLLECTIVELY REALLY BIG CROOKS. We need to know what the pension amounts are for every politician who had a hand in laying out the State and Local pension plans. We should all be taking to the streets just as those people in Bell who finally got off their butts to take notice of the workings of the politicians in their town. They did this to themselves and gave their elected crooks free rein to set up their tidy empire. Probably going on all around us. Who's going to investigate the rest of elected politicians and the empires they have in place? What are WE THE PEOPLE going to do about this? We elect these people and then turn them loose at the gate! Another sign that American is cracking and crumbling under the power and lure of greed and corruption.

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