US Politics
CalPERS' Flicker of Fiscal Sanity: A Cautious Appraisal of Declining Pension Costs
California's public pension costs are showing a surprising and modest decline due to strong investment returns and reforms that apply less generous formulas to new hires, which offers a glimmer of fiscal sanity after years of burdensome taxpayer bailouts for the system's past failures. This is a crucial but fragile step towards restoring accountability, protecting public services, and upholding the social contract between taxpayers and the government they fund.
