Friday, July 11, 2014

At least the UC pension doesn't have CalPERS-type problems

As we have noted, the state mechanically funds CalPERS and thus makes an automatic contribution to the CSU pension system.  But the state is reluctant to concede any such obligation to UCRP.

Could that be an "honest" mistake? At least UC's pension doesn't have the kinds of problems seen at CalPERS (see below).  If you had to choose between them, which plan would you favor?

The first two payments were made in paper bags. The last installment came in a shoebox. The handoffs all came at a Sacramento hotel near the Capitol.

In a stunning admission covering years of corruption, the former chief executive of CalPERS said Friday he accepted $200,000 in cash, along with a series of other bribes, from a Lake Tahoe businessman who was attempting to influence billions of dollars in pension fund investment decisions...

Full story at

A shoebox? Are you sure it wasn't a tin box?

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