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Old 04-01-2013, 10:13 AM
 
Location: Paranoid State
13,044 posts, read 13,815,647 times
Reputation: 15839

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Daniel Borenstein: CalPERS actuary warns of pension fund shortfalls, says more money is needed - ContraCostaTimes.com

and

Pensions: Why CA is So Screwed Up, in a Nutshell :: Fox&Hounds


"So CalPERS’ actuary, in a fit of unusual honesty, says the pension giant’s finances are in bad shape in the long run and need to be firmed up....

"So CalPERS’ actuary wants to firm up CalPERS’ long-term stability by socking taxpayers [with no incremental contribution from unions], and what is the expected reaction from unions?

“Labor representatives will protest the [proposed] higher rates, even though Milligan’s proposal does not require employees to pay more — and even though it will make their pensions more secure. The problem for them is that employers would have less money for salary [increases.]”
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Old 04-01-2013, 10:38 AM
 
12,823 posts, read 24,329,353 times
Reputation: 11039
And meanwhile, former CalPERS leaders get busted for funneling CalPERS money into illicit insider investments. Ah yeah!
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Old 04-01-2013, 11:03 AM
 
Location: Vallejo
21,700 posts, read 24,907,238 times
Reputation: 18970
"Don't make promises you can't keep."
Unless you're a California municipality, that is.
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Old 04-01-2013, 01:58 PM
 
345 posts, read 1,028,306 times
Reputation: 304
I honestly think maybe it's a good thing if this "madness" continues. Like a drug addict, sometimes you need to hit rock bottom before you have the desire to truly get clean.

So will California ever hit rock bottom? lol
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Old 04-01-2013, 04:01 PM
 
Location: in a galaxy far far away
19,158 posts, read 16,561,995 times
Reputation: 33236
Quote:
Originally Posted by Billy Millennium View Post
I honestly think maybe it's a good thing if this "madness" continues. Like a drug addict, sometimes you need to hit rock bottom before you have the desire to truly get clean.

So will California ever hit rock bottom? lol

Not until they've taxed everything they can and driven those who pay the highest amount in taxes from the state. Do you think Vegas has odds on how long it will take to happen?
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Old 04-01-2013, 04:48 PM
 
345 posts, read 1,028,306 times
Reputation: 304
Quote:
Originally Posted by HereOnMars View Post
Not until they've taxed everything they can and driven those who pay the highest amount in taxes from the state. Do you think Vegas has odds on how long it will take to happen?
Would be interesting to see what the expert Vegas oddsmakers think .

What about that "email tax" I read about in another thread; honestly laughed when I read it. At least the CA section is always entertaining .
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Old 04-01-2013, 04:56 PM
 
Location: in a galaxy far far away
19,158 posts, read 16,561,995 times
Reputation: 33236
Entertaining, for sure

I wouldn't be surprised if Vegas had a wager on it. You can bet on just about everything there.
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Old 04-01-2013, 09:26 PM
 
Location: Wherever I happen to be at the moment
1,228 posts, read 1,365,487 times
Reputation: 1836
Quote:
Originally Posted by HereOnMars View Post
Entertaining, for sure
Isn't that fer sure?
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Old 04-01-2013, 09:33 PM
 
4,566 posts, read 3,382,317 times
Reputation: 2571
Quote:
Originally Posted by Ghostly1 View Post
Isn't that fer sure?

Totally
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Old 04-02-2013, 08:22 AM
 
Location: Paranoid State
13,044 posts, read 13,815,647 times
Reputation: 15839
The silence is deafening - no retorts from the usual left-wing hand-wringers that CA has plenty of money, that public sector pensions are paid for, that we need to "raise taxes on the rich", etc.
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