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LA's Pension War Goes Nuclear
CityWatch 
[Opinion] Oct. 16, 2012
"The City's two pension plans, the Los Angeles City Employees Retirement System and the Fire and Police Pension Plans, have an unfunded pension liability of $9.5 billion, representing a funding level of only 73%. However, if this liability were determined based on a more realistic investment rate assumption, the unfunded pension liability would be at least $13 billion, a funding level of only 66%. Pension contributions are also devouring the General Fund, suffocating numerous programs and services, catapulting from $350 million (9.6% of the General Fund) in 2005 to a projected $1.3 billion (26% of the General Fund) in 2017."
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