A recent Wall Street Journal article, “Ill-Funded Police Pensions Put Cities in a Bind,” discusses problems cities have experienced after cutting police pensions and other benefits.
According to the article, police and firefighter pensions are among the worst funded in the country, with a median of 71 cents for every dollar needed for future liabilities. In comparison, median funding for general ...
Today CalPERS reported a preliminary 11.2% net return on investments for the fiscal year ending June 30, 2017. This new figure brings CalPERS’ Total Fund performance to 8.8% for the past five years, 4.4% for the past ten years, and 6.6% for the past 20 years.
Applying a seven percent discount rate (also known as the assumed rate of return), CalPERS estimates it is now 68% funded, a three percent increase from the ...
Other AALRR Blogs
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- Be Cautious About “DROP” Programs
- California Supreme Court Hears Cal Fire Oral Argument
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- New CalPERS Compensation Limits, Effective Immediately
- CalPERS Responds to Its Critics
- Senate Bill 525 Amends California Public Pension Laws
- New Stanford University Study Predicts Public Pensions Costs in California to Consume 14-17.5% of Operating Expenses by the Year 2030
- New Law Penalizes Employers Who Fail to Provide Information About Annuitants Working During Retirement
- Appellate Court Holds That MOU Does Not Provide Vested Interest in Retiree Medical Benefits