Posted on 07/17/2012 2:06:56 PM PDT by scooby321
Europe's debt crisis and slowing global growth held the biggest U.S. public pension fund to a disappointing 1 percent gain in the last 12 months, well below its return target and its hefty 20.9 percent gain the year before.
(Excerpt) Read more at foxbusiness.com ...
How much more will this cost me and my kids?
California Black Hole Implosion Imminent...... =.=
Your right the State of California makes up the difference
It's downright scandalous but that's how governments across the country do it. No private business would be permitted such pie-in-the-sky estimates. As an aside, the fund managers should be canned, too.
I mean, 1%?
The average CalPERS pension benefit is $2,332 per month. The average benefit for those who retired in the most recent fiscal year that ended June 30, 2011, is $3,065 per month.
More information about CalPERS is available at www.calpers.ca.gov .
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