Tough Times For Nest Eggs
Unsurprisingly, the crippled economy in California has generated renewed debate about whether the state can sustain its three largest pension programs… In addition to a gradual ramping up of contributions, the Academic Senate has suggested the university issue bonds to cover the system’s state-funded employees, who comprise about one-third of the university’s workforce. In so doing, the theory goes, the sponsors of other university employees – supported by non-state sources, including auxiliary enterprises, the medical center and federal grants – would be compelled to cover their share as well.
Read full article [here].
by Jack Stripling, Inside Higher Ed.