Updates
December 18, 2016: the long cold winter for California's pension fund is coming. Data points:
- only three sources for funds
- profits from the stock market
- worker contributions
- government contributions
- 2016: $7.2 billion in pension payments; more than 60% more than just nine years ago
Perhaps better advice: "Hey. guys, let's work with President Trump, make America great again, and continue the Trump rally." Ha-ha -- like that will ever happen.
Original Post
California: America's largest pension fund -- a 7.5% annual return is no longer realistic. -- WSJ. Data points:
- the pensions are guaranteed
- any state shortfall must be picked up by cities
California budget:
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