Question
CALPERS has reported a $93 billion unfunded liability for California civil servants, and California has reported a $241 billion deficit in its pension and retiree
CALPERS has reported a $93 billion unfunded liability for California civil servants, and California has reported a $241 billion deficit in its pension and retiree health care fund (as of November, 2016). Illinois is facing even more severe problems. The only remedy offered so far in California is to raise the retirement age of new public safety officers from 50 > 57, and new civil servants from 55 > 67 (university employees excepted). Do you think this will solve the pension and retiree health care problem? Why do you think the unions have resisted reforms?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started