Posted on 07/18/2021 3:27:26 PM PDT by Rummyfan
indeed, the California politicians chased almost all of the aerospace industry out of the state
it employed many people
CalPERS unfunded liability amounts to $150 BILLION. Unfunded liabilities are, as you probably know, debts for which there are no funds with which to pay them. In other words, they are in the hole. Doesn’t sound so solvent to me. CalPERS recognizes the deficit but “hopes” future returns on investments will cover the obligations. More likely, contributions will have to be increased exponentially to address the problem. So typical of government programs: If there is a shortfall, just raise taxes and/or mandatory contributions. Fiscal soundness has NEVER been a government concern.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.