Analysis of information sources in references of the Wikipedia article "CalPERS" in English language version.
The California Public Employees' Retirement System currently has a $153 billion unfunded liability, with only 68 percent of the assets it should have,...
The California Public Employees' Retirement System board voted on Wednesday to lower the pension plan's expected rate of return from investment to 7 percent by 2020, a decision that comes after the fund failed to meet its 7.5 percent target the past two years. The move by the country's largest public pension fund will place a greater financial burden on the state's cities, counties and other local government agencies across California that rely on CalPERS pensions. The $300 billion fund is currently 68 percent funded and recently became cash negative, meaning that it paid out more in benefits, approximately $19 billion last year, than it collected from workers' contributions - about $14 billion.
But the system is underfunded overall. Its assets are worth about 68 percent of what it owes to retirees and public workers.
But the system is underfunded overall. Its assets are worth about 68 percent of what it owes to retirees and public workers.
The California Public Employees' Retirement System currently has a $153 billion unfunded liability, with only 68 percent of the assets it should have,...
The California Public Employees' Retirement System board voted on Wednesday to lower the pension plan's expected rate of return from investment to 7 percent by 2020, a decision that comes after the fund failed to meet its 7.5 percent target the past two years. The move by the country's largest public pension fund will place a greater financial burden on the state's cities, counties and other local government agencies across California that rely on CalPERS pensions. The $300 billion fund is currently 68 percent funded and recently became cash negative, meaning that it paid out more in benefits, approximately $19 billion last year, than it collected from workers' contributions - about $14 billion.