Read Jerry Brown’s letter calling for CalPERS to immediately raise employer contribution rates
02/05/2014 3:29 PM
02/18/2014 11:08 PM
Gov. Jerry Brown, citing statistics showing that government employees are living longer and driving up pension costs, has challenged CalPERS to increase employers’ contributions to the fund instead of following a staff recommendation to delay raising rates for two years. Waiting, he says, merely adds to the fund’s debt.
(Worth noting: Brown’s 2014-15 budget proposal puts off addressing the teachers’ retirement system’s growing unfunded liabilities until 2015-16.)
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