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Article: Governor's Public Employee Post-Employment Benefits Commission Releases Report on Funding Status of Public Pension Plans.
- Article from:
- Business Wire
- Article date:
- July 12, 2007
CopyrightCOPYRIGHT 2007 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BURLINGAME, Calif. -- Today, the Governor's Public Employee Post-Employment Benefits Commission released a study concluding that California's governments face an estimated $63 billion shortfall in pension obligations. The study examined pension systems representing 99% of the state's current public pension obligations from all levels of government. State and local government pension systems including CalPERS (which covers state, California State University, and local government employees), CalSTRS (which covers California's teachers), and the University of California Retirement System, as well as city, county and special districts contributed to the study.
The ...
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