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Won't that hurt people who were trusting that promise to be kept? That could have caused people to stay in the same job and not make their own retirement saving
by averagewall 10y ago
Won't that hurt people who were trusting that promise to be kept? That could have caused people to stay in the same job and not make their own retirement savings or change to a higher paying job for the 2 decades between 1999 and today.
- adrr 10y agoSB400 was passed under promise that it wouldn't need tax payer support. So a promise is being broken either way. We wouldn't be in the issue if Calpers wasn't terrible at investing. They did really stupid things like invest in the most risky tranche of CDOs during the subprime crisis. Thats not the fault of tax payers.