Firefighters battle a structure fire after a wildfire swept through an area near Bakersfield last week. California’s state and local firefighters have some of the state’s highest and most expensive pension benefits.
Firefighters battle a structure fire after a wildfire swept through an area near Bakersfield last week. California’s state and local firefighters have some of the state’s highest and most expensive pension benefits. Casey Christie AP
Firefighters battle a structure fire after a wildfire swept through an area near Bakersfield last week. California’s state and local firefighters have some of the state’s highest and most expensive pension benefits. Casey Christie AP

CalPERS’ unfunded liabilities grow as investment earnings lag

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