FYI: Calpers, which oversees $360 billion in assets for 1.9 million police officers, firefighters and other public workers, is dealing with challenges on several fronts. The largest is financial. Calpers has just 71% of what it needs to pay future benefits, putting the fund in the middle of America’s massive pension shortfall.
Estimates of governments’ total unfunded promises to workers range from $1.6 trillion to $4 trillion nationwide, and the funding gap is straining taxpayers and putting pension promises in jeopardy.
Regards,
Ted
https://www.wsj.com/articles/calpers-chief-faces-short-term-and-long-term-liabilities-1537959600?tesla=y
