It's public-worker, risk-free investing
04/21/2014 7:04 AM
04/22/2014 6:28 PM
Re "Workers should pay more" (Letters, April 20) Even well-meaning public employees don't get it or are ignoring it, Joe. You stated you wouldn't want your retirement plan at the mercy of the stock market. Your pension manager's (CalPERS or STRS) investments are actually at the mercy of the stock market, the real-estate market and the rest of the marketplace.
When your pension manager's investments go south, the taxpayers - those of us whose investments have also suffered - make up the difference.
We've just been asked to pony up an additional annual $5 billion annually, for CalSTRS alone, to cover its debts.
For you public employees, it's guaranteed, risk-free investing for now. It will come crashing down because it's a shell game not based in reality. Sound fair?
-- John Chase, Rocklin
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