California state pension funds going broke, Stanford study finds
April 05, 2010 Filed in: Unions
Gwyneth Dickey, Stanford University News
New calculations by
Stanford graduate students show that California's three main public
employee pension funds are in more dire financial trouble than
previously believed. California public employee pension systems are
worse off than anyone previously projected, according to a new
report generated by five graduate students in Stanford's graduate
Public Policy Program. The result could be greater pressure on the
state budget and a shortage of pension funds in the
future...