CalPERS asset allocation less than projected
By Robin Respaut, Reuters
California Public Employees’ Retirement System expects a 5.8 percent annual investment return under its new portfolio asset allocation, significantly lower than the fund’s assumed rate of return of 7 percent by 2020.
The reduced expectation, disclosed late Monday in documents from the largest U.S. public pension fund, is based on a lower-risk, lower-return asset allocation adopted by CalPERS in September and announced in December.
CalPERS’ caution mirrors outlooks from public pension funds across the United States as they try to grapple with investment forecasts of slow market growth over the next decade.
Get ready taxpayers to bail out CalPERS.
The sweetheart deals between the politicians and the unions are coming home to roost.
Our own little town is reducing services because of the exorbitant costs of pensions and health care for it employees and retirees.
EDC is also in the same leaking boat.
Interesting, don’t give up. It seems like you are trying to imply that only union members who work for the State have “exorbitant costs of pensions and healthcare for it (sic) employees and retirees”? It seems to me that ALL State workers, including non-union management and professionals, get the same “exorbitant pensions and healthcare”, not just union members. BTW, are you including our Law Enforcement, Fire, EMS, Prison Guards and other critical employees?
Unions don’t sign their own contracts. That show takes two to tango. And all involved get the same excessive pay and benefits.