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California Governor Says Longer-Living State Workers Will Drive Pension Costs Up by $1.2 Billion a Year
The Sacramento Bee Link to more items from this source
Feb. 5, 2014
"[Governor Jerry] Brown called 'unacceptable' a CalPERS staff recommendation he said would have the board 'wait two full years before taking action.' Fund staff previously raised concerns about the cost of raising contribution rates, recommending increases not take effect until 2016.... CalPERS said ... that board members 'must balance a number of factors in their decision making including the state of our financial markets, our economy and the ability of our members and employer partners to pay increased pension costs.'"

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