CalPERS, the country's largest public pension fund which pays for the retirements of CA's public sector workers, is $139B short of being able to fund its obligations so it's backtracking on socially responsible investing because its returns are too low.https://www.wsj.com/articles/calpers-dilemma-save-the-world-or-make-money-11560684601?utm_source=newsletter&utm_medium=email&utm_campaign=newsletter_axiosprorata&stream=top …
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This is one area where I'm rightfully proud of
@CityofSunnyvale. We've been skeptical of CalPERS' claims, and we paid extra and created a pension trust fund to safeguard against CalPERS' failure to meet its numbers. But the additional payments are pretty scary for other cities. -
“additional payments” are taxes. Taxes for pensions for people that are not me. I’m paying for their pension. Yeah, no.
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