Calpers has reported a 93 billion unfunded liability for, Ask an Expert

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CALPERS has reported a $93 billion unfunded liability for California civil servants, and California has reported a $241 billion deficit in its pension and retiree health care fund (as of November, 2016). Illinois is facing even more severe problems. The only remedy offered so far in California is to raise the retirement age of new public safety officers from 50 > 57, and new civil servants from 55 > 67 (university employees excepted). Do you think this will solve the pension and retiree health care problem? Why do you think the unions have resisted reforms?

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Financial Management, Finance

Category:- Financial Management
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