California’s failure to properly fund its pension obligations was the center of attention at a recent meeting of the California Society of Municipal Analysts, at which RSI board member and former Mayor of San Jose Chuck Reed presented. Despite 17 years of assuring Californians that everything was going to be all right, said Reed, the state’s two giant retirement plans, CalPERS and CalSTRS, have racked up hundreds of billions of dollars in pension debt.  Here’s the CalPERS record of failure:

Click here to view the entire presentation.