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How a Pension Deal Went Wrong and Cost California Taxpayers Billions
Los Angeles Times 
Sept. 19, 2016
"Proponents sold the measure in 1999 with the promise that it would impose no new costs on California taxpayers. The state employees' pension fund, they said, would grow fast enough to pay the bill in full. They were off -- by billions of dollars -- and taxpayers will bear the consequences for decades to come. This year, state employee pensions will cost taxpayers $5.4 billion ... That's more than the state will spend on environmental protection, fighting wildfires and the emergency response to the drought combined."
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