Tags: US | California | Pensions

Half Trillion Gap in California Pensions Found

Wednesday, 07 Apr 2010 10:18 AM

 

  Comment  |
   Contact  |
  Print   |
    A   A  
  Copy Shortlink

A Stanford University study commissioned by Gov. Arnold Schwarzenegger says California's public pension funds are underfunded by as much as $500 billion.

The estimated shortfall applies to the retirement systems for California state and local government workers, teachers and University of California employees.

Analysts at those funds estimated their unfunded liabilities to be much lower. But a Schwarzenegger economist says they have been underreporting the gap between revenue and obligations.

In a statement, the Republican governor says the study, released Monday, reaffirms the need to address the state's staggering pension debt.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  Comment  |
   Contact  |
  Print   |
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Actor Booth Colman Dies at 91

Sunday, 21 Dec 2014 21:30 PM

Booth Colman, who had a long career as an actor including the role of ape scientist Dr. Zaius in the 1970s "Planet of th . . .

FSU Quarterback Jameis Winston Cleared in Campus Rape Hearing

Sunday, 21 Dec 2014 19:12 PM

Florida State University star quarterback Jameis Winston has been cleared in a student conduct code hearing looking into . . .

Satanic Temple Puts up Display at Michigan Capitol

Sunday, 21 Dec 2014 18:42 PM

Christians and Satanists put up competing displays Sunday on the Michigan Capitol grounds in Lansing as Christmas week g . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved