California pensions remain underfunded despite fiscal gains – World Socialist Web Site

California pensions remain underfunded despite fiscal gainsWorld Socialist Web SiteWhen the economy tanked in 2008 not only were pension portfolios decimated (CalPERS lost $95 billion, a little under 50 percent of its total value) but municipalities, like Stockton, lost massive amounts of money due to the fall in real estate values …and more …read more