[Jamo]

You really don't understand what is being discussed here, do you.

It is a huge part of the budget when you consider the vast majority of the 95 billion is simply non-discretionary according to most folks...little things like keeping the lights on at the schools, keeping dams from falling apart, fighting fires, etc.

One more time...CalPERS is overfunded. In fact, even if we paid ABSOLUTELY NOTHING into it this year, and even if the economy stayed in the same shape for the next several decades, the participants would still receive the VERY SAME BENEFITS they are guaranteed now by working less than a year longer.

But, nobody is suggesting to decrease the contribution for the current participants. What is being proposed is that any new participants (new employees) be provided the package of benefits provided back in 1999...which still includes defined benefits.

Having them go to 401(k)-style plans like private industry has would save even more. But again, this is only for new folks.

Do you understand that?