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Ignoring Pension Past, California Risks Future Problems: New at Reason

Lawmakers in California don't want to re-litigate past mistakes even as they're certain they're not making them anymore. Steven Greenhut writes: CalPERS—which in 1999 claimed the pension boost (Senate Bill 400, which had then-Assemblyman Lou Correa of Santa Ana as a principal co-author) would pay for itself through continuing stock-market increases—came back with a rebuttal this past week.
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