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CalPERS rate hike: 50 percent over six years

Original post made by Arnold, Another Pleasanton neighborhood, on Mar 25, 2013

"The CalPERS board last week tentatively approved an employer rate hike of roughly 50 percent over the next half dozen years, replacing a policy that kept rates low during the recession with a plan to reach full funding in 30 years...

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Comments (2)

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Posted by Drowning, Drowning I Tell You
a resident of Another Pleasanton neighborhood
on Mar 25, 2013 at 10:30 pm

They can't! We're all sinking! This is a tsunami of gargantuan magnitude! Is it just? I don't know and I don't care. Is it reasonable? I don't know and I don't care. Is this a more critical problem than kids not getting enough to eat? I don't know and I don't care. Clearly we need more links! And more links! But even those won't save us from the crushing waves of unsustainability that are swallowing us whole. Glub. Glub.

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Posted by Mr, drowning
a resident of Another Pleasanton neighborhood
on Mar 25, 2013 at 10:51 pm

What you should take from this is that our CA educational system dollars are being diverted from their primary purpose - education, to fund retirement benefits. It isn't JUST about the diversion of those dollars away from the classroom but also about the teachers pensions plan (CalSTRS), and the classified employees (CalPERS), skimming money from their own funds and now asking taxpayers to cover both the skim and market losses.

Maybe you're OK with that but I'm not.

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