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 ...
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