Reforming California's Public Employee Pension Systems (PDF)

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Reforming California's Public Employee Pension Systems (PDF)
Stanford Institute for Economic Policy Research

Apr. 6, 2010

8 pages. Excerpt: We conclude that California's public pension liabilities are substantially understated. Given the consequences of pension underfunding, we believe every effort should be made in short order to implement policy changes to reverse the current shortfall and to prevent a similar shortfall in the future. Specifically, improved long-term funding outcomes can be influenced through higher contributions, investment in less risky assets, and lower benefit levels[.]

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