Calpers Actuary Proposes Changing 7.75% Investment Return
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California Public Employees’ Retirement System, the largest U.S. public pension, should consider changing its assumed rate of investment return, its actuary said. Trimming the forecast may add to taxpayer costs.
The rate, now 7.75 percent, is used to calculate how much money the $234 billion fund expects to have and how much it needs to cover benefits promised to workers, as well as the size of annual contributions by state and local government.