Article: Governor's Public Employee Post-Employment Benefits Commission Releases Report on Funding Status of Public Pension Plans.

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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