Pensions are the new mortgages. At least, that's the way it appears when cities begin walking away from the obligations to their employees the way some underwater homeowners sought indemnification during the residential market crash. ...

The biggest pension fund for California teachers, CalSTRS, is experiencing a massive funding gap and the California Governmental Accounting Standards Board (GASB) is proposing new accounting rules for calculating the fund’s liabilities that will make ...

CalSTRS Response: https://www.calstrs.com/Newsroom/whats_new/pension_reform_response.aspx CalSTRS appreciates that Governor Brown has taken a very important step in addressing the critical and complex issues facing the state's public pension systems. We look forward to receiving more detail on ...