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Read this article by the flack for CalSTRS--it is a beautiful explanation of CalSTRS, how it is run and why it is needed.
No complaint at all with the article--except it is a lie, by omission.
CalSTRS has $156 billion in unfunded liabilities--the flack does not mention that.
The recent Stanford University report shows that CalSTRS finances are not sustainable--he does not mention that.
He does not mention that per the Constitution, CalSTRS will get first dollars from the General Fund, meaning educations, health care, public safety, etc. will have to be cut to pay for the mandated pensions.
No one suggest that CalSTRS is not an important benefit. But we expect government employees to tell us the truth.
In fact, we really expect government employees to lie to us. Ed Derman, sadly, by omission, has lived up to our low expectations for government employees. Since he can not or will not tell the truth, he needs to be fired---you do not lie to your employer--the people of California.
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No complaint at all with the article--except it is a lie, by omission.
CalSTRS has $156 billion in unfunded liabilities--the flack does not mention that.
The recent Stanford University report shows that CalSTRS finances are not sustainable--he does not mention that.
He does not mention that per the Constitution, CalSTRS will get first dollars from the General Fund, meaning educations, health care, public safety, etc. will have to be cut to pay for the mandated pensions.
No one suggest that CalSTRS is not an important benefit. But we expect government employees to tell us the truth.
In fact, we really expect government employees to lie to us. Ed Derman, sadly, by omission, has lived up to our low expectations for government employees. Since he can not or will not tell the truth, he needs to be fired---you do not lie to your employer--the people of California.
More...