The employer contribution to California’s state and local government pension systems will double, from $31 billion in 2018 to $59 billion by 2024. This estimate is based on aggregating official projections of cost increases issued by CalPERS to their participating agencies, and extrapolating those projections show the overall impact on all of California’s 87 government pension systems.
. . . If you are wondering what is truly driving the state and local governments’ insatiable desire for more tax revenue, look no further.
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