Why high school kids with internet become zillionares

A modernization of the CalPERS computer system is scheduled to “go live” in September, nearly two years later than the original startup date, and the main contract is $276.6 million, up from $199 million announced five years ago.

Calpensions

This is an old story and is mainly corruption. At Lockheed we used to annually rip of Gray Davis with this nonsense, proposing a $200 million dollar computer, then reneging.