Forbes.com has a lengthy piece that tries to devine whether another catastrophe will deliver a final blow to the economy before recovery starts. CalPERS is mentioned in the piece.
John Osbon, one of the experts on Forbes' "Investor Team," says, "I can imagine CalPERS or TIAA-CREF making some announcement that they are cutting benefits and payouts by 30% due to investment losses, non-functioning markets and so on. That would be a real hit with real money."
This strikes us as a bit ignorant, since CalPERS pension benefits are guaranteed. The fund can't simply "announce" a cut in benefits and payouts.
Still, the piece is worth your time if you're interested in what's happening in the national and global economies and what might be coming. Click here to read, "The next economic shoe to drop."
UPADATE: After we posted this item, CalPERS and the state Legislative Analyst weighed in with their takes on the Forbes piece. You can read those responses by clicking here.