TITLE

Panel: California's Pension Problems Likely to Worsen

AUTHOR(S)
Saskal, Rich
PUB. DATE
September 2004
SOURCE
Bond Buyer;9/14/2004, Vol. 349 Issue 31968, p27
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article presents information regarding preceding at a special pension workshop during The Bond Buyer's 14th Annual California Public Finance Conference, held in San Francisco, California. According to many panelists at the conference, the pension liability problems faced by California government employers are going to get worse before they get better. The state's public employee pension programs have taken a roller coaster ride since the late 1990s, and Ron Seeling, the chief actuary of the California Public Employees Retirement System, tried to explain the roller-coaster mechanics and demystify his job. Most pension plans have an assumed annual rate of return on their investments of at or near 8%, which is accurate over a 60-year period.
ACCESSION #
14438056

 

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