"About a third of Americans nearing retirement age, those between 55 and 64, have no retirement savings," says the LA Times. Through a series of articles looking at the pension crisis affecting the nation, and in particular California, the paper examines how much public pensions are truly costing governments and taxpayers and asks the $5 trillion dollar question: should taxpayers have to chip in more to cover those retirement promises when they themselves lack retirement savings. 

Read more of the series here and find out how your retirement compares to California's retired public employees' pensions, the largest pension fund in the nation, with this LA Times calculator.