OPINION: California Faces Death by Pension
Columnist Steven Greenhut writes in the American Spectator that an upcoming election for the board of the California Public Employees’ Retirement System (CalPERS) reveals the state’s pension fund lacks accountability to taxpayers. All decision makers on this board are either union members or politicians who are closely aligned with union interests. Greenhut says the result has been a system that invests based on its political interests and pays exorbitant benefits that are not sustainable in the long term.
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