Despite Budget Action, Much Work Remains to Solve State’s Pension Crisis

Anyone worried about an earthquake plunging California into the sea should be more concerned about what is really sinking the state: the cost of public-employee pensions. In the just-enacted 2017-18 state budget, about $8 billion of the state government’s $183 billion spending package will go to the California Public Employees’ Retirement System, known as CalPERS, and […]