Friday, September 7, 2012

CalSTRS "asleep at the switch"

State: Pension bosses missing cheaters - SFGate: "As public employee pensions swell beyond the state's ability to pay for them, a new review of the agency that oversees educators' retirement funds says it does a poor job of identifying cheaters. The California State Teachers' Retirement System is supposed to monitor pensions at more than 1,600 public schools and colleges, and crack down when it finds trouble. But when the state controller's office checked in on the vast pension fund, it found the agency asleep at the switch. . . ."

No wonder California is bankrupt.


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