CalPERS’ preliminary losses were $56.2 billion in the fiscal year that ended last month, while the California State Teachers’ Retirement System lost $43.4 billion.
On Tuesday, the country’s two biggest public pension funds reported losing almost $100 billion in the fiscal year that ended June 30. And the governor is expected to highlight the new numbers as he renews a campaign to trim the cost of providing lifetime, fixed benefits to hundreds of thousands of government retirees.
- Californians are getting the best government IOUs can buy
- More underfunded public pensions
- Pension Benefit Guaranty Corporation lost its shirt in stocks
- Knox County sheriff’s pension fund in trouble already
- “If you did not know it before, you do now. California is bankrupt.”
- CA pension loses 25% of assets since July 1 due to real estate investments