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CalPERS Loss Triggers More Debt Payment Reform
Calpensions 
July 29, 2019
"Investments earning 6.7 percent during the fiscal year that ended June 30 might seem like a good return ... [CalPERS] currently needs earnings of at least 7 percent to balance its books for the year. So the small loss, .3 percent, creates a new layer of debt to add to the many layers of debt from previous years with investment losses.... [U]nder a reform adopted by the CalPERS board last year new debt from investment losses will be paid off over 20 years instead of 30 years[.]"
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