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CalPERS Earnings No Longer Last Among Big Public Pension Funds
Calpensions 
Sept. 22, 2014
"But CalPERS is still underfunded.... With a change in actuarial method, CalPERS is no longer keeping employer contribution rates low by spreading investment gains and losses over 15 years and refinancing debt each year. The goal now is to get to full funding in 30 years. A series of rate increases, one expecting longer lives, will have boosted annual employer contributions to CalPERS roughly 50 percent when phased in over the next few years."
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