Summary
Stanford Institute for Economic Policy Research released a report on April 5 suggesting California's Public Employee Pension plans are in deep trouble.
The report estimated the combined funding shortfall of CalPERS, CalSTRS, and UCRS exceeded half a trillion dollars. The report also said these three public pension funds lost a combined $109 billion in portfolio value between June 2008 and June 2009.See the full content of this document
Extract
California Pension Crisis
CalPERS issued a press release two days later saying the study used outdated data and suggested the report failed to take several issues into account. For example, the report advocated the funds invest more conservat...
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