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More evidence that pensions are going to kill government agencies.
"Californias public retirement systems are more than three times underfunded than state officials projected, a total of $326.6 billion when combining the states teachers and public employee programs, according to a new study released today by the Foundation for Educational Choice.
Meanwhile, in Los Angeles, San Francisco, San Diego and Orange County, local pension systems for city and county public employees are also underfunded as much as $49.2 billion, according to Trouble Brewing, The Disaster of California State Pensions.
Unfunded Liabilities That we Know
CalPRS ( per Stanford University) $525 billion
UC System $21 billion
LA DWP $11.5 billion
CalSTRS $48 billion
State Employee Health Care $52 billion
4 counties $49.2 billion
And this is just a short list--wait till we get all the numbers. California is about to have a total fiscal collapse, probably as early as next Spring.
More...
"Californias public retirement systems are more than three times underfunded than state officials projected, a total of $326.6 billion when combining the states teachers and public employee programs, according to a new study released today by the Foundation for Educational Choice.
Meanwhile, in Los Angeles, San Francisco, San Diego and Orange County, local pension systems for city and county public employees are also underfunded as much as $49.2 billion, according to Trouble Brewing, The Disaster of California State Pensions.
Unfunded Liabilities That we Know
CalPRS ( per Stanford University) $525 billion
UC System $21 billion
LA DWP $11.5 billion
CalSTRS $48 billion
State Employee Health Care $52 billion
4 counties $49.2 billion
And this is just a short list--wait till we get all the numbers. California is about to have a total fiscal collapse, probably as early as next Spring.
More...