“The California Public Employees’ Retirement System posted a 1 percent return on its investments last fiscal year, well below its long-term annual target of 7.5 percent. The current long-term unfunded liability for CalPERS is estimated at about $85 billion, and the California State Teachers’ Retirement System is short by about $64.5 billion.
Rice added that California also faces billions of dollars in projected budget shortfalls.”
This puts this about 36% unfunded currently
We would already need long term inflation to be between 6-8% to get beyond the current slow motion train wreck.
