Also, CalPers was a victim of State Street Bank’s (Boston) fraudulent money “management”. They settled in a payment but the damage was done. That “bank” ripped off public pension funds all over the country, it amazes me none of their disgusting managers aren’t in jail...friends of Barney Frank I guess.
yes, that 56 million that was more than paid back in fines totally accounts for the state being 250 billion underwater in their pension assets. You must be an accounting genius
Not mentioned in the article werected the many favored that received a fake promotion their last year sometimes doubling their peak salary and thus retiring for more than they ever really earned in a year.