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Newspaper Article
State pension gap grows, survey says
2007
Overview
\"Unfunded liabilities are going up and the funding ratio - which is a sign of how much money is being put toward future liabilities - is going down,\" said association spokesman David Kline. \"Taken together, that's a bad equation.\" Last week, the governor's Public Employee Post-Employment Benefits Commission concluded that the state's pension systems have an obligation of $579 billion - with just $516 billion currently funded. \"I think the public is becoming more aware of this issue every day,\" [Keith Richman] said. \"Every day throughout the state the public is learning about the abuses of the public employee pension system and the costs that this is going to have.\"
Publisher
Los Angeles Newspaper Group
Subject
