David Crane—California’s $500-billion pension time bomb

Posted by Kendall Harmon

The state of California's real unfunded pension debt clocks in at more than $500 billion, nearly eight times greater than officially reported.

That's the finding from a study released Monday by Stanford University's public policy program, confirming a recent report with similar, stunning findings from Northwestern University and the University of Chicago.

To put that number in perspective, it's almost seven times greater than all the outstanding voter-approved state general obligation bonds in California.

Read it all.

Filed under: * Culture-WatchAging / the Elderly* Economics, PoliticsEconomyLabor/Labor Unions/Labor MarketPersonal FinancePensionsPolitics in GeneralState Government

14 Comments Posted April 7, 2010 at 4:55 pm

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