Description

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 America's Public Pension Crisis

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Hardback by Lawrence J. McQuillan

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California's unfunded public pension liability, when measured correctly, is two to four times larger than official government estimates. The failure... Read more

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

    Number of Pages: 192

    Non Fiction , Politics, Philosophy & Society

    Description

    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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