“Public employee unions strongly value pensions as necessary for a good middle-class lifestyle. And yet, their pension funds are investing in Uber and Lyft, which don’t provide that for their workers.”https://twitter.com/CalMatters/status/1130874831686184960 …
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Basically, people are living longer, Gray Davis made a dumb decision in 1999 with SB 400, rates of return are lower than originally expected and California Rule. SF does not have it as bad as the rest of the Bay Area bc it’s a city/county and has business HQs as a rev source
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