The Golden State Pension "Trainwreck" is Coming

California State Senator, John Moorlach, joins Real Vision to discuss California’s looming pension crisis. Senator Moorlach explains to Mike Green of Logica Capital Advisers why CalPERS, or the California Public Employees’ Retirement System, is so massively underfunded. He discusses how the system has flooded into the equity market and made promises to its pensioners that it cannot possibly keep. Filmed on February 6, 2020, in Sacramento, California.