TITLE

Massive Liabilities Plus Politkal Paralysis Leave Plenty of Work to Be Done

AUTHOR(S)
Saskal, Rich
PUB. DATE
March 2006
SOURCE
Bond Buyer;3/30/2006, Vol. 355 Issue 32350, Special section p72
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article provides an overview of the fiscal condition of California. According to the author, California is facing liabilities associated to the retirement system for its state and local government workforce. The California Public Employees' Retirement System was underfunded by $24.7 billion as of June 30, 2004. Meanwhile, the state government has issued bonds to finance its annual contribution to the pension system.
ACCESSION #
20409250

 

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