Solving California's Pension Disaster

Incremental changes in the state’s pension system will not be enough to tackle the demands exploding from an increasingly aging population: Between now and 2050, the number of seniors in California triples to 11.6 million, putting pressure on working-age tax payers footing the bill.  If California sticks with status quo, pension obligations will grow to five times the total state tax revenue as soon as 2012. And, pension liability will have tripled from 2009 to 2014.