brewboy

Lennar: Picking Calpers' Pocket

Unfortunately, CalPers may lose the money but the Teachers and other pensioners will not as the TAXPAYERS will be required to pony up to keep them whole. Heaven forbid a State Employee loses a job or has a pension cut! Taxpayers in California will get the short end of the stick for YEARS to come over lost pension fund investment at the State, County and City levels. The only true hope for them is Bankruptcy like Vallejo where the overly generous pension guarantees can be re-done without Union Coercion and/or collusion with the politicians for votes.