Pension troubles mount with investment losses

Inland governments sweetened retirements for employees when times were good, but now that the economy has soured, taxpayers may end up paying a hefty price.
Retirement investment funds for Riverside and San Bernardino counties each lost about $1.5 billion -- roughly a quarter of their value -- in the fiscal year that ended June 30, finance staff estimate. Many cities also lost big as markets plummeted. http://www.pe.com/localnews/politics/stories/PE_News_Local_S_pension14.41de0ac.html

This is being repeated throughout California! Most Californias are unaware of the financial repercussions of overly generous pensions given to public employees. Cities, counties and state governments are facing this problem right now and the taxpayers are the ones who will be footing the bill as government services are reduced to pay for generous government pensions that were not properly funded.