Wall Street impacting pension plans

The Wall Street meltdown has caused local and state public-pension systems to lose tens of billions of dollars in value over the past year, and elected officials and taxpayer groups expressed worry Wednesday that taxpayers might ultimately have to bail out the plans. Troy Anderson in the Daily News.

The state retirement system has lost about $50 billion in investment value since June 30, 2007, a drop of about 20 percent in just over a year.

Los Angeles County's system has dropped 8 percent, from $40.9 billion down to $37.8 billion, during the same period.