The markets are up dramatically in the last year.  The so-called PERS deficit should now be significantly less than the 22 billion that has been thrown around for some time now.  Hard to get straight talk on PERS.  It is so convenient for state employers to blame since little can be done about it.  We must be careful in listening to government propaganda regarding PERS since it may largely be a cover for hiding inordinate pay and benefit increases associated with on-going operations.