How California public agencies can reform pension benefits
In 2011, after the Great Recession left California Public Employees’ Retirement System (CalPERS) only 61 percent funded, the Little Hoover Commission gave a dire warning: “California’s pension plans are dangerously underfunded, the result of overly generous benefit promises, wishful thinking and an unwillingness to plan prudently. Unless aggressive reforms are implemented now, the problem will […]
