CalPERS should be Required to Invest in California Based Companies

Frank Ury
Mayor Pro Tem, City of Mission Viejo

With all the discussion regarding out of control state and
local government pension liabilities, many are struggling with how to balance
committed retirement obligations with projected revenues.  The numbers are dizzying.  Lost in much of this discussion is who owns
the risk?  Right now, it is just the
taxpayers, acting as a backstop, who will shoulder much of the future
burden.  But is that where the discussion
should end?  How responsible are the
employees themselves?

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