Shaping the Future of Public Pensions
By Jack Ehnes, CalSTRS CEO
The future of public pensions is actively debated in coffee shops, reported in the media, and discussed in the halls and chambers of the Legislature — often a lot of talk and speculation without a reasonable, tempered resolution.
Late last year, the Governor convened a panel to take a step beyond the rhetoric, to gather information and facts from all sides of the issue, and to resolve to make meaningful recommendations about public pensions. The Governor’s Public Employee Post-Employment Commission was created with the intention of sending a report to the Governor and Legislature by January 1, 2008 that:
- Identifies the full amount of postemployment health care and dental benefits for which California governments are liable and which remain unfunded.
- Evaluates and compares various approaches for addressing governments’ unfunded retirement health care and pension obligations.
- Proposes a plan to address governments’ unfunded retirement health care and pension obligations.
Throughout 2007, CalSTRS has fully participated in Commission meetings. We provide the 12–member panel with testimony and facts to help them to understand how your pension system is structured and to encourage an appreciation for the promises made to you.
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