![As California's new governor, Gavin Newsom needs to address what no one wants to talk about - Los Angeles Times](https://www.latimes.com/resizer/DrhgjqHeWgHRW0dNBEJuZWRR_sw=/1200x0/arc-anglerfish-arc2-prod-tronc.s3.amazonaws.com/public/BCWKQOBAQNFSJNUS74ZQ4OKXYQ.jpg)
Today, California’s public pension systems are badly underfunded. Under the best scenarios, they owe roughly $3 in promised benefits for every $2 in projected assets. The total unfunded liabilities for all state and local pension systems in California range from $330 billion to $1 trillion, depending on how they’re calculated.
Source: latimes.com – Los Angeles Times