CalPERS loses 20% of its value

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US - The funded status of the California Public Employees' Retirement System (CalPERS) could fall to as low as 68% by the middle of next year unless the scheme is able to turnaround a 20% loss on its value since 1 July, its actuaries have warned.

And if returns do not improve in the 2008-09 fiscal year, employee contributions will have to go up. An actuarial report to CalPERS Benefits and Program Administration Committee, estimated that ...

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