Largest public pension fund earns dismal 1 percent
The nation's largest public pension fund collected a dismal 1 percent annual return on its investments, a figure far short of projections that will likely bring pressure on California's state and local governments to contribute more money, officials said Monday.
By Judy Lin|July 16, 2012 at 12:58 PM
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SACRAMENTO, Calif. (AP) — The nation’s largest public pension fund collected a dismal 1 percent annual return on its investments, a figure far short of projections that will likely bring pressure on California’s state and local governments to contribute more money, officials said Monday.
The return reported by the California Public Employees’ Retirement System was well below its projected return of 7.5 percent for the fiscal year that ended June 30.
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