SACRAMENTO – Governor Edmund G. Brown Jr. issued the following statement regarding today’s vote by the California Public Employees’ Retirement System (CalPERS) Board to reduce the pension fund’s current 7.5% expected annual rate of return on investments to 7% over the next three years:
“Today’s action by the CalPERS Board is more reflective of the financial returns they can expect in the future. This will make for a more sustainable system.”
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