CalPERS could cut forecast projections
In an unprecedented move by the US’s largest pension fund, the California Public Employees’ Retirement System (CalPERS) may lower the projected rate of return for all stocks, bonds and other holdings from 7.75% to 6%.
CalPERS has used its 7.75% projected annual return to make investment decisions since 2003, but with a state budget deficit of nearly $20 billion and losses to the tune of $58 billion at the fiscal year-end...
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