Infinite Menus, Copyright 2006, OpenCube Inc. All Rights Reserved.
KPAY ALERTS:
Connect :

 

KPAY News

Brown urges pension fund to address rising costs


SACRAMENTO, Calif. (AP) — Gov. Jerry Brown says longer life expectancies for government retirees will blow an even larger hole in California's unfunded pension liabilities and is criticizing inaction by the state's retirement system. The Democratic governor sent a letter yesterday to the board of the California Public Employees' Retirement System. In it, he urged board members to acknowledge the demographic changes immediately and phase in the costs over three years rather than waiting two years to take action, as CalPERS' staff recommends. Brown's letter did not suggest how the phase-in should be done but says two years of inaction will cost $3.7 billion over the next 20 years. The pension fund is $45 billion in the red. A CalPERS spokeswoman says life expectancy is one of many factors used in setting contribution rates.

On Air Now
George Noory  
George Noory
12:00am - 6:00am
Coast to Coast AM
My Blog

KPAY Stream


SPORTS-TALK KPAY
LIVE & LOCAL
DEDICATED SPORTS
STREAMING CHANNEL


KPAY Calendar




LinkedUpRadio Envisionwise Web Services