Stanford Study Reveals California Pensions Underfunded By $1 Trillion

[HAPPY2BME]

by Tyler Durden
Dec 2, 2016 9:00 PM

Stanford Study Reveals California Pensions Underfunded By $1 Trillion Or $93k Per Household

    Stanford University’s pension tracker database pegs the market value of California’s total pension debt at $1 trillion or $93,000 per California household in 2015.

    In 2014, California’s total pension debt was calculated at $77,700 per household, but has increased dramatically in response to abysmal investment returns at California’s public pension funds that hover at or below zero percent annual returns.

    The Pension Tracker database (www.pensiontracker.org) is maintained by the Stanford Institute for Economic Policy Research (SIEPR) and is intended to help localize pension data by providing the ability to look up the market value of pension debt in any locality in California.


http://www.zerohedge.com/news/2016-12-02/stanford-study-reveals-california-pensions-underfunded-1-trillion-or-93k-household

[Adam Wood]

Good grief, how ridiculous. In response, I expect Governor Moonbat Moonbeam to promise every sewer worker in L.A. a shiny new Ferrari when they retire after 16.5 years on the job.

[ADsOutburst]

Good grief, how ridiculous. In response, I expect Governor Moonbat Moonbeam to promise every sewer worker in L.A. a shiny new Ferrari when they retire after 16.5 years on the job.

You mean... a Ferrari California? 

[Adam Wood]

You mean... a Ferrari California? 

Heh!  Good one!

[DumbAss Tanker]

Now Kalifornistan, which is about to crash into a fiscal iceberg, has passed a law through both houses that affords State defenders to anyone the Feds try to deport.  Aside from the fact that defending illegals in Federal proceedings is likely something for which they can't legally use State funds, this can only hasten their sinking.

[freedumb2003b]

Now Kalifornistan, which is about to crash into a fiscal iceberg, has passed a law through both houses that affords State defenders to anyone the Feds try to deport.  Aside from the fact that defending illegals in Federal proceedings is likely something for which they can't legally use State funds, this can only hasten their sinking.

They are ready to have their Federal funds pulled (which will happen after an expensive legal fight that they will lose).

[HAPPY2BME]

Disgruntled Democrats Want A Constitutional Convention To Leave The Union