After Governor Schwarzenegger appointed me to the board of the California State Teachers’ Retirement System (CalSTRS) in 2005 I learned that employees and taxpayers make upfront pension contributions but only taxpayers are on the hook for deficiencies and that pension fund board members exploit that asymmetry through the use of unrealistic investment return assumptions to depress upfront contributions and inflate deficiencies.
We ought to leave pensioners out to dry. There is absolutely nothing that any of them did that entitles them to guaranteed income. As taxpayers, we have the right to vote to end our enslavement by the pensioners of this state. Time for people to stop clucking themselves economically and just focus on making their own lives better.
We ought to leave pensioners out to dry. There is absolutely nothing that any of them did that entitles them to guaranteed income. As taxpayers, we have the right to vote to end our enslavement by the pensioners of this state. Time for people to stop clucking themselves economically and just focus on making their own lives better.