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Wall Street Journal is Wrong About Public Pensions
CalPERS 
[Opinion] Apr. 15, 2014
"[CalPERS] relied on IMPLAN, the most widely employed and accepted regional economic analysis software for predicting economic impacts.... [They input] total benefits paid in California (more than $12.7 billion) into IMPLAN to arrive at a 2.39 economic multiplier and the 113,664 jobs created.... CalPERS benefits (retirees spending their pensions) returned $10.85 in economic activity to California for each taxpayer dollar (public funds) contributed to the system. The total economic revenue generated by CalPERS benefits was more than $30.4 billion."
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