Leaders Needed for Public Pension Plans

CalSTRS Deputy CEO Ed Derman recently responded to a San Jose Mercury News opinion article discussing public pensions.

Leaders Needed for Public Pension Plans

David Crane (Opinion, June 5) correctly points out that retirement plans must be adequately funded in order to provide promised benefits while mitigating the impact on the state's general fund.

But he also charges pension fund officials as chiefly to blame for the funding shortfalls, and gives Wall Street financiers a pass for their reckless games that have left the global economy in a prolonged recession.

CalSTRS has been at the forefront in identifying its need for a long-term funding solution to ensure pension security for public educators in the state.

Read more at San Jose Mercury News