California Public Pension Costs To Soar

The Sacramento Bee's Dan Walters writes today about California's public employee pension debt being higher than many claim. Some claim the debt could go as high as 1 trillion dollars. Maybe even higher, depending on how it's handled:

 "Two national actuarial associations established a joint task force to study the thorny discount rate issue, but a dispute erupted over publishing the research project’s conclusions that public pension earnings assumptions are too high and should be sharply reduced. Were its recommendations to be followed, the nation’s unfunded pension liability would quadruple from $1.5 trillion to $6 trillion."

This sort of thing is what makes me really wonder about the wisdom of the state running a pension fund for non- government employees, which is already in the works.

Read more here: http://www.sacbee.com/news/politics-government/politics-columns-blogs/dan-walters/article100871752.html#storylink=cpy