Posted: Thu. June 11, 2015
Senior Fellow Lawrence McQuillan, author of California Dreaming appears on KUHL radios Andy Caldwell show. McQuillan talks about Californias public pension system and how it is on a road to financial ruin. The states pension payout is gobbling up the states budget and other services are suffering. Politicians often take pension holidays and dont contribute during periods of economic prosperity and the pension funds suffer even more. McQuillans book contains solutions, such as private sector 401k-type retirement plans, which fulfill promises made to retirees and keeps the state solvent.