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Table of Contents
The problems
How are defined-benefit pensions calculated?
How are pension funds amassed?
California's massive public pension unfunded liabilities
What are the major drivers of the pension problem?
Why did lawmakers allow this problem to worsen and why have they not solved it?
The immorality of California's public pension crisis
Why pay pensions at all?
The critical elements of a comprehensive solution
The fiscal advantages
The moral advantages.
How are defined-benefit pensions calculated?
How are pension funds amassed?
California's massive public pension unfunded liabilities
What are the major drivers of the pension problem?
Why did lawmakers allow this problem to worsen and why have they not solved it?
The immorality of California's public pension crisis
Why pay pensions at all?
The critical elements of a comprehensive solution
The fiscal advantages
The moral advantages.