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
Originally published in the Santa Monica Daily Press print edition on March 11, 2024. Read the original PDF.