The officers that run the largest U.S. pension fund are proposing to lower their investment goals for the first time in four years, a move that could lead to higher contributions for government workers as well as cities and counties across California.Mmmmm-hmmmmm.... So you're coming off one of the biggest stock market rallies in history, stocks and bonds are both near all-time high prices, but you're not going to do anything unless your balanced portfolio goes up another 11.5% in a year.
The plan from the California Public Employees’ Retirement System, which will be considered by its board next week, would trigger a reduction in the fund’s current 7.5% return assumption following profitable years when it earns more than expected.
The new proposal outlines a range of scenarios where Calpers would lower its return assumptions in years when investing profits top internal goals by 4% or more.
CalPERS to lower return targets -- but only if it has a really big year first
Gothamist : A 58-year-old taxi driver killed himself in his Queens home this month, marking the eight suicide in the taxi industry this yea...
Thanks, CNN and NY Times, for working these nutjobs into such a lather. OpenSecrets.org on Judy Munro-Leighton,the woman who admitted lyi...
I'm a huge Ric Edelman fan. I'm a regular listener of his radio show and believe he's made a huge positive contribution to the f...