Pension Tracker, a website founded by Professor Joe Nation at the Stanford Institute for Economic Policy Research (SIEPR), is now publishing monthly estimates of California’s total public pension debt (aka its unfunded liability). Below are SIEPR’s estimates released this morning for California’s major public pension systems as of November 30, 2016.
The combined CalPERS, CalSTRS, independent, and UC Retirement systems are 64.6% funded, with an actuarial pension debt of $373.6 billion, or $28,755 per California household. On a market basis, these systems are 32.7% funded, with a market pension debt of $1.388 trillion, or $106,848 per California household.
[EDITOR’S NOTE: In 2012, the city council commissioned Professor Joe Nation and SIEPR to conduct a study of Fullerton’s funding of its employee pensions and health care obligations. The study can be accessed here.]