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 This material may not be published, broadcast, rewritten or redistributed.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.
 
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

Immigrants Warned Not to Fall Prey to Amnesty Plan Fraud

Wednesday, 26 Nov 2014 18:03 PM

Some people fear that President Barack Obama's new immigration plan could set up "scams, rumors and a lot of questions," . . .

HHS on Obamacare: Almost 500K Enroll in First Week

Wednesday, 26 Nov 2014 17:16 PM

Almost 500,000 Americans signed up for an Obamacare health insurance plan through HealthCare.gov during the first week o . . .

San Francisco Passes 'Retail Workers Bill of Rights'

Wednesday, 26 Nov 2014 16:18 PM

Retail workers in San Francisco now have stronger protection from companies changing their work schedules on short notic . . .

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