January 9, 2018

Taxpayers on the Hook for $1 Trillion as Public Pensions Choose Politics over Performance

The nation’s largest public pension fund, the California Public Employees’ Retirement System (CalPERS), is severely underfunded. With more than $300 billion in assets, CalPERS future liability exceeds those assets by more than $100 billion. How did things get so bad? A number of factors have contributed to CalPERS’s relatively recent and precipitous decline…

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