CalPERS, the California Public Employee Retirement System that manages pension and health benefits for more than 1.6 million California public employees, retirees and their families, continued to promise a healthy return on investment for its members during the recession, even though retirement accounts in the private sector had shrunk dramatically.
Today, the retirement group is having to make up lost ground.
CalPERS retirement benefits are funded through contributions paid by contracting emplo...
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