Reply #32: yeah and CalPERS lost a hell of a lot of $ too [View All]

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As a retiree I should know being I get their newletters, etc. They stopped printing one for the retirees a long time ago to cut costs. That should give a *hint* as to the shape they are in.

CalPERS lost a bundle in Enron as did UCRP (Univ. of Calif. Retirement Plan). I wonder how much UCRP has? I know that those working for the University haven't seen a pay increase in years. The only reason many continue to work for them is the benefits, and that is the only reason being the pay is so crappy!

Raiding CalPERS will be difficult indeed as it is surrounded by a variety of Union organizations (CSEA and AFSCME). They've had to really cut a lot the past few years as far as benefits go already. I for one now forfeit my entire crappy little pension and send CalPERS checks to continue to have health benefits.

The reason the fund has the money it does is because State employees pay into it every paycheck and they also pay into Social Security. This leaves a slim pickins paycheck for many out there, esp. those in the types of jobs that don't pay a lot (i.e. office assistants, etc.). I know of many out there that would quit their State jobs in a minute if they could find a job that had the same benefits. The pay from the State tends to be a joke unless you are one of those that has hung in there for many years and put up with the crap.

Ahnuld will be in for a real wake-up call if he tries to raid CalPERS or UCRP because the workers are already pissed off! I cannot help but wonder how many of them voted to recall Davis.

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