CalPers allowed the Counties, Cities & State to perform the biggest Ponzzi scheme in the history of this nation.
The local Counties & Cities kept raising the anti as to the size of the Pensions and the number of years required on the job to attain the Maximum retirement benefits.
I would ask CalPers to refute the following statement then ask yourself (reader) if he or she has the same future potential.
Any person working for any City or County in California at the present time having worked for 25 years is assured of receiving at least $45,000 in retirement funds ANNUALLY - these funds will accelerate at 2% per year as long as he/she shall live. These employees have paid little or nothing into their pension program as the Cities & Counties took it upon themselves to make the payments. Our County Supervisors benefited immensely from such benefits. And the Taxpayers guaranteed these pension payments
Cal-Pers - AM I WRONG?
Read more: CalPERS debuts ethics helpline - Sacramento Business Journal