PENSION SHORTFALL: California Senate President Kevin de León has - TopicsExpress

PENSION SHORTFALL: California Senate President Kevin de León has a brilliant idea -- use the states troubled pension fund to make a political statement about coal. Despite the fact that the sole purpose of a retirement fund is to make enough money to cover retirement obligations, Californias fund has become a political tool to make political statements. Thats what happens when you have a defined benefit program that obligates taxpayers for any fund shortfalls. If California had a defined contribution system it would force the state to simply invest with the best possible return in mind - not with political intentions.

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