A California Public Employees’ Retirement System panel has voted to maintain the system’s assumed rate of return at 7.75%, Pensions & Investments reports. The chief actuary of the $230.1 billion system, Alan Milligan, had recommended a decrease to 7.5%.
The assumed rate is based on a 20-year projection. A small increase in contributions from state and municipal employers will be required, ranging from 0.3-1.3%, said Milligan.
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