CalPERS is managed by idiots!

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Uploaded by on Nov 8, 2009

Max Keiser talks to Stacy Herbert about CalPERS California Public Employees' Retirement System
recorded on November 7th 2009

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  • What really needs to be done with federal, state, city, local, etc, etc, pension plans (probably will never happen) is to have all new employees put on a DEFINED CONTRIBUTION (self directed ira/401k plan) plan, as opposed to a DEFINED BENEFIT plan. Curent employees under a DEFINED BENEFIT plan should be required to make contributions that will result in full funding of the pension system. Also, do away with the retiree health benefits, cannot justify this huge bennie any more.

  • Pension Watch website is a great place to read about the pension fund insanity. (pensiontsunami d ot com)

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