Hiding the Upcoming Government Pension Disaster

Actuaries trying to accurately reflect the state of the California pension system were rebuffed by the CalPERS Board lead by Neal Johnson of the Service Employees International Union who told the Board it was better to hide reality. “I was afraid we were going to throw gasoline on the fire in the public pension debate,” Johnson told a CalPERS committee after a key vote.

Wouldn’t union members and pensioners rather know the true state of the pension fund?