Tags: US | California | Pensions

Half Trillion Gap in California Pensions Found

Wednesday, 07 Apr 2010 10:18 AM

 

Share:
  Comment  |
   Contact Us  |
  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 This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  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.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Calif. Bill Allows Families to Seek 'Gun Restraining' Order

Tuesday, 30 Sep 2014 08:06 AM

California would become the first state to allow family members to petition judges to take away relatives' guns if they  . . .

Body of Missing Arkansas Real Estate Agent Found

Tuesday, 30 Sep 2014 07:53 AM

Police have discovered the body of an Arkansas real estate agent in a shallow grave after she was reported missing last  . . .

Virginia Police: Forensic Evidence Links 2 Cases

Tuesday, 30 Sep 2014 07:44 AM

They both were walking alone, separated from their friends late at night on or near the University of Virginia campus. O . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

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