Listen to the Hon. Dan Kolkey, PRI board member and attorney with Gibson Dunn, discuss the closely watched case Cal Fire v. CalPERS and the State of California.
The case challenges the ability of state and local governments to adjust future pension benefits for current workers. PRI has submitted an amicus brief in the case because a ruling in this case against the State of California would hinder the Legislature’s ability in the future to exercise its constitutional authority to address the state’s massive unfunded pension liabilities and control the State’s budget.
A recent PRI chartbook by Dr. Wayne Winegarden shows that California’s unfunded public employee pension debt problem is far worse than imagined – nearly $1 trillion