February 21, 2012
Study finds $135.7B in local pension liabilities
Two dozen city and county governments in California face a combined $135.7 billion in unfunded pension liabilities, according to a study released Tuesday that also found the problem is growing.
The Stanford Institute for Economic Policy Research and a nonprofit group, California Common Sense, evaluated 24 local government pension systems that are not part of the California Public Employees' Retirement System, the state's main pension fund. The funds ranged from those for smaller entities, such as Santa Barbara and Stanislaus County, to the largest local governments in California, including Los Angeles, San Diego and San Francisco...
LINK - SacBee.com
