Bonfire of the Absurdities in News New Format

CalPERS earns 1.1% on investments in 2011

CalPERS earns 1.1% on investments in 2011. Only 6.65% below the average annual return of 7.75% that the actuaries say will be needed to meet its obligations. At some point California public union retirees are gonna hafta take a cut and/or members of the 99% like Robert Redford are gonna hafta pony up a LOT more dough. Good times.

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Bonfire of the Absurdities: After 35 year career writing software for IBM mainframes, am now self-employed contractor thinking of joining a union and striking for higher wages. Cured morbid fear of heights when I learned to look at them as lengths standing on end. Uncompromising in refusal to accept browser cookies. Amateur investor who has accumulated a small fortune in the market after starting out years ago with a large one. For recreation, I run, hike, kayak and play tennis but will not consider synchronized swimming under any circumstances.

View Comments (1)

PsychoDad says:

January 25, 2012 at 7:29 am

OMG I wish I could say more here. I'm on a case involving CalPers even as we speak, but for the other party. Nothing related to this, though, not directly.