Pension Fund Shell Game Could Leave Taxpayers Empty Handed
San Gabriel Valley Tribune › February 01, 2006
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Summary
After years of bad news about public pensions, California taxpayers caught a break last week when the public employees' retirement fund announced that the state's obligation to the pension system would decline by nearly $200 million in the coming year.
But don't start celebrating yet.See the full content of this document
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Pension Fund Shell Game Could Leave Taxpayers Empty Handed
Unfortunately, that reduction didn't come from gains in the pension fund's investments, or from more efficient management of the program.
Instead, the discount was the result of accounting changes that might eventually come back to haunt u...See the full content of this document
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