Stanford report: Shortfall for California's pension systems as much as a half a trillion dollars
April 05, 2010 Filed in: Unions
Denis C. Theriault, Mercury News According to a new report by a group of
Stanford University graduate students, the shortfall facing
California's public pension systems could reach more than half a
trillion dollars over the next decade and a half. A summary of the
report, released Monday, also said the current recession has cost
the three systems — for the state's public employees,
schoolteachers and University of California workers — $109.7
billion in lost investment value. The report says the systems'
basic growth assumptions are too rosy…