CalPERS expected to report losing nearly one-quarter of investment portfolio
California’s huge government pension fund is expected to report today a whopping annual loss of an estimated $56.8 billion, almost a quarter of its investment portfolio.
The loss at the California Public Employees’ Retirement System for the fiscal year ended June 30 is the second in a row for the country’s largest fund. A year ago, CalPERS reported an $8.5-billion loss, as the severe recession began to take hold.
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As income from the pension investments fall, the governments would have to make up the difference to meet the state’s pension and healthcare obligations.
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