California Pension Crisis: CalSTRS Plans to Borrow $30 Billion to Avoid Asset Fire-sale Amidst Liquidity Strain.
by confoundedinterest17 California is experiencing a pension inferno! One of the biggest public pension plans in the US plans to borrow tens of billions of dollars to maintain liquidity instead of triggering a fire-sale of its assets. Bloomberg reports the roughly $318 billion California State Teachers’ Retirement System (CalSTRS) plans to borrow $30 billion, or about 10% …