Tuesday, April 6, 2010
Califronia Pensions at Risk!
500 billion dollars. That's how much money the California Pension System needs to keep going. Essentially, millions of retirees in California may end up with a useless pension fund. Meanwhile, the Justice Department is investigating the California pension fund. Apparently, there are concerns over investment managers accepts bribes to put pension funds in some question areas. It looks like California is going down the toilet.
Study: California Public Pensions Underfunded by Over $500B
Criminal probe targets Calif. pension fund