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 aÂ reckless promise."
- "Editorial: A Reckless Promise Again Haunts CalPERS" (Sacramento Bee, 3/8).