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California public employee’s pension bill to go up after CalPERS lowers market expectations

NOVEMBER 18, 2021 | by Madison Hirneisen | MONTEREY COUNTY WEEKLY (CALIFORNIA)

By Madison Hirneisen, includes “… This expected reduction in the rate of return means that some employees will have to contribute more to their pension funds because the fund expects to earn less from its investment portfolio. … Bill Bergman, the director of research at Truth in Accounting, said the move by CalPERS to require increased contributions on the part of employees is a marginal solution to a much bigger problem. …”

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