Even After Near-record Returns, CA State Retirement Fund Still $166b Short

By Kenneth Schrupp | The Center Square(Worthy News) – A booming stock market propelled California’s main state retirement fund to near-record returns, but the fund is still $166 billion short on its obligations, according to the Reason Foundation. With the taxpayer-funded Legislative Analyst’s Office warning the state should be ready for a possible stock market peak and downturn as weak economic conditions persist, the 12-figure pension shortfall could widen once again – and leave taxpayer