Editorial: CalPERS’ Long-Term Care Promise Was ‘Reckless’
A Sacramento Bee editorial argues that "early buyers of CalPERS' more expansive long-term care policies" have good reason to "feel burned" after the recent approval of a plan to raise premiums for such policies by 85%. According to the editorial, "While there was no guarantee, CalPERS created an expectation that the cost of this extraordinary benefit would remain flat forever." It adds, "It was a reckless promise."
- "Editorial: A Reckless Promise Again Haunts CalPERS" (Sacramento Bee, 3/8).