Stanford: California households owe an average $30,500 for unfunded public employee pension debt

From Daniel Borenstein of the San Jose Mercury News:

The average California household's share of the debt for underfunded state and local government employee pensions omes to about $30,500.

Stanford University studies released last week and in December for the first time aggregate public pension shortfalls statewide. Using moderate assumptions about future investment returns, the unfunded liability is about $379 billion.