1. Going through that LA Times article, and it says nothing at all about CalPERS lying about their returns. It says that they will be lowering their return assumptions because the overall investment climate has changed, and pension funds may not be able to meet their existing return targets (because of the Fed’s gross manipulation of interest rates over far too many years -CAR) if there is another crash. They have lowered return assumptions in the past, are evaluating the need to lower them further, and are proactively shifting their risk profile and trying to make more conservative assumptions. This is a wise and responsible policy.
2. I have yet to see Jerry Brown “calling bullshit” on CalPERS. Please include a quote (a real one, not one of your “edited” ones), and cite your source.
3. My link is a link to the original/primary source of the information. The LA Times and the WSJ are secondary sources. You have yet to show anything from the CalPERS site that is “bogus,” as you say.
4. The statement about public employees not earning SS was directed at those who think that public employees earn both a SS benefit and a DB pension benefit at the same time. As a matter of fact, even if they’ve earned SS from another job in the private sector, that benefit that they have already earned from SS is **reduced** if they receive a retirement check from a public DB pension plan.
5. It’s also funny how you think that a 20 or 30-year return history is more “cherry-picked” than a fraction of a single year’s return. You really are dense, Pri.
So far, I’m the only who who has presented credible data from original/primary sources. You are the one who has relied on biased secondary sources.
