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CalPERS, CalSTRS Report Paltry Returns
Pension Pulse 
July 17, 2012
"[S]tocks got hammered while bonds and real estate helped them etch out positive results.... CalPERS made 5.4% in private equity, not a loss as it was reported [by the Los Angeles Times]. The weak returns mean their long-term investment targets will need to be revised down and contribution rates will have to be raised. No choice, there is no other fix. Taxpayers are not on the hook, as is widely reported out there."
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