
CalPERS: Actuaries Demand 10 Percent Annual Funding Increases
Despite hot stock market gains over the last three years, California Public Employees’ Retirement System (CalPERS) actuaries just demanded that public pensions increase funding by a stunning 10 percent next year and make similar annual increases for each of the next 5 years due to an inappropriate “assumption.” That means that CalPERS’ annual payment could leap 61% from $4.5 billion this year to $7.25 billion in five years.