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This Time CalPERS Plans for Stock Market Drop
Calpensions 
July 1, 2019
"Despite a fund reaching $368 billion last week during a record bull market, CalPERS is far from recovering its 100 percent funding in the year before the 2008 crash. It still has only 70 percent of the projected assets needed to pay growing future pension costs.... Last month the CalPERS board ... received a staff report on planning for the next 'drawdown,' defined as a 20 percent drop in the market for at least three months."
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