CalPERS just called me

At 11:27 am, according to my cell, I got a call from CalPERS, the California Public Employees’ Retirement System. At first I thought it was about some news story I had done. I’ve talked to them before.

Then the woman started taking about a “survey.”

“This is a poll on CalPERS?” I asked.

“Yes.”

I thought about taking it, just to see where it went. Usually I don’t take surveys. Sometimes I do just to find out what’s happening. When I do the latter, if it’s on politics, they usually ask if I work for the media, which disqualifies me from their great honor.

“OK,” I said.

“It will only take up to 20 minutes, maybe less.”

“I’m sorry, I don’t have that much time. Goodbye.”

I wish I also had said, “Because I’m working to pay for CalPERS.”

It’s curious that CalPERS is conducting a survey like this. Clearly, they are worried about public opinion. They’re still fighting to get payments owed by bankrupt San Bernardino. The city insists that the payments are the same as any other debt and must be the part of any settlement by the federal bankruptcy judge.

CalPERS realizes that more municipal bankruptcies likely are on the way. And it wants to know where it needs to spruce up its image.

But no surveys and no potential change in public opinion can change the actuarial reality that its funding level remains well below what’s needed to meet its obligations.