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A comment on California once had mobile hospitals, ventilator stockpile but dismantled them. Parent comment

Re:California once had mobile hospitals, ventilator stockpil... by bpodgursky on Sunday March 29, 2020 @01:03AM (#22716570)
That article was written during a booming stock market, too. CalPERS (the retirement fund in question) projects something like 7-8% stock returns to stay even nominally solvent.

If the market doesn't (pretty much fully) recover within the next six months, the entire CA pension system is going to be catastrophically insolvent.

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Re:California once had mobile hospitals, ventilator stockpil... by 3fe9a03ccd14ca5 on Sunday March 29, 2020 @01:31AM (#22716685)
The sad part is that the pension system is already walking dead. They’re going to need a bailout, it’s only now people are starting to have real conversations about it.

Should the CA tax payer pick up the bill for promises made to state employees that were never expected to be payable? We’ll see how that goes. Either way the tax payer and the pensioners lose.

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