Even after near-record returns, CA state retirement fund still $166B short

(The Center Square) – A booming stock market propelled California’s main state retirement fund to near-record returns, but the fund is still $166 billion short on its obligations, according to the Reason Foundation. With the taxpayer-funded Legislative Analyst’s Office warning the state should be ready for a possible stock market peak and downturn as weak economic conditions persist, the 12-figure pension shortfall could widen once again – and leave taxpayers with the bill.

Amid these risks, and several high-profile mishaps by the California Public Employees’ Retirement System uncovered by The Center Square, one California assemblyman is wondering why the state is continuing with this system in the first place.

After The Center Square’s investigation found CalPERS lost Read Entire Article