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Book Synopsis
California's unfunded public pension liability, when measured correctly, is two to four times larger than official government estimates. The failure to fully fund the pension promises has allowed the current generation to receive public services that they are not fully paying for, pushing the pension problem onto future generations. California Dreaming explains how six reforms would solve the state's pension problem in an equitable, responsible, and moral way: preserving pension benefits already earned, providing competitive pensions going forward, and granting the flexibility needed so that future generations are not paying for deals they did not make.

California Dreaming: Lessons on How to Resolve

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    A Hardback by Lawrence J. McQuillan

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      View other formats and editions of California Dreaming: Lessons on How to Resolve by Lawrence J. McQuillan

      Publisher: Independent Institute,U.S.
      Publication Date: Publication Date: 30/07/2015
      ISBN13: 9781598132434, 978-1598132434
      ISBN10: 1598132431

      Description

      Book Synopsis
      California's unfunded public pension liability, when measured correctly, is two to four times larger than official government estimates. The failure to fully fund the pension promises has allowed the current generation to receive public services that they are not fully paying for, pushing the pension problem onto future generations. California Dreaming explains how six reforms would solve the state's pension problem in an equitable, responsible, and moral way: preserving pension benefits already earned, providing competitive pensions going forward, and granting the flexibility needed so that future generations are not paying for deals they did not make.

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