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Wordslinger tells us that California has a huge surplus of $11 BILLION.
Gee...that's strange. Remember Paul Harvey telling us "and now, the rest of the story".
CalPERS Suffers $30.8 Billion Annual Loss
The California Public Employee Retirement System (CalPERS) is about to report the world’s largest public employee pension suffered an actuarial investment loss of $30.8 billion last year.
[...]
CalPERS has notoriously minimized the annual pension contribution for its 3,007 government entities by fantasizing that its superior investments expertise will allow its investments to compound every year without loss for the next three decades at an annual rate of 7.5 percent.
To understand just how inflated CalPERS’ assumed investment return really is, the U.S. Pension Benefit Guarantee Corporation estimate for private sector defined-benefit investment returns is only 4 percent.
http://www.breitbart.com/california/2016/07/13/calpers-suffered-30-8-billion-annual-loss/
This is a common practice of Progressives and Democrats. In order to have their monetary schemes balance, they see how much money they "need" and then pick an interest rate or income that fills their exagerated dreams.
Gee...that's strange. Remember Paul Harvey telling us "and now, the rest of the story".
CalPERS Suffers $30.8 Billion Annual Loss
The California Public Employee Retirement System (CalPERS) is about to report the world’s largest public employee pension suffered an actuarial investment loss of $30.8 billion last year.
[...]
CalPERS has notoriously minimized the annual pension contribution for its 3,007 government entities by fantasizing that its superior investments expertise will allow its investments to compound every year without loss for the next three decades at an annual rate of 7.5 percent.
To understand just how inflated CalPERS’ assumed investment return really is, the U.S. Pension Benefit Guarantee Corporation estimate for private sector defined-benefit investment returns is only 4 percent.
http://www.breitbart.com/california/2016/07/13/calpers-suffered-30-8-billion-annual-loss/
This is a common practice of Progressives and Democrats. In order to have their monetary schemes balance, they see how much money they "need" and then pick an interest rate or income that fills their exagerated dreams.
