CALPERS is NOT a union it is our retirement System!! I pay into it every month as does my employer for my retirement. I believe they did loose a lot of money last year due to the whole housing market/wall street financial dibacle. Whether the taxpayers make it up or not I am not fully aware of that. I would have to look into it more.

The Union is SEIU!!! YUCKY! and whether we join or not we still have to pay dues!