Dinosaurs? Report Fails to Support Pension Claims

California State Treasurer and CalSTRS ex-officio board member Bill Lockyer recently responded to a Pensions & Investments editorial on Defined Benefit Pensions.

Dinosaurs? Report Fails to Support Pension Claims

The editorial "Secure by sharing risks," April 18, was heavy on rhetoric, but light on facts and thoughtful analysis. That's not surprising, since the primary source was a California Little Hoover Commission report that was more a political tract than a thorough study this crucial issue warrants. That report failed to address fundamental questions or provide a foundation for its central recommendation, distorted testimony to support its claims and ignored inconvenient data. The P&I editorial exhibits the same failings.

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