Originally Posted by Mr981
Moody's has it at about $2 trillion; the report states that the average pension is 41% funded--Yipes!
Apparently, one of the major culprits was the optimistic expected return on the pension fund investments--typically pegged at 8%. CALPERS earned just 1% in the past year indicating how far off even the major pension funds can be.
Naturally, the tax payers will have to make up the difference.
1% Incredible...imagine how much the fund managers are making on that money to make that 1%. Good thing they beat the market.