Dear Editor,
What a sad read your commentary in the March 6, 2024 edition of the Daily Press was.
Imagine any CEO of a company saying their unfunded pension liability was $265 million and he “hoped it would be manageable in 20 or 30 years….”
But hey, CALPers manages our investments, and “There’s nothing we can do about it” ~ we can always increase taxes (call them fees) or sell more bonds!
Yup, as long as governments work this way, we’re on a road to nowhere…
If this happens at City level, one gets giddy thinking what goes on at State and Federal levels.
Peter von Geusau, Santa Monica