CalPERS returns 'likely to be flat' in current fiscal year

[Twoultall]

California Public Employees' Retirement System Chief Investment Officer Ted Eliopoulos on Monday described the pension fund's current fiscal year performance as "likely to be flat, which is a nice way of saying zero
CalPERS returns 'likely to be flat' in current fiscal year

 

[Lumpy 1]

California Public Employees' Retirement System Chief Investment Officer Ted Eliopoulos on Monday described the pension fund's current fiscal year performance as "likely to be flat, which is a nice way of saying zero
CalPERS returns 'likely to be flat' in current fiscal year

Welcome to the USMB Twoultall, I hope you have a good time..

Not really my area of expertise but the operative line seems to be..

"Last year, the pension fund began projecting a negative cash flow, meaning the fund pays out more in benefits than it collects from contributions and investment income, a repercussion of more baby boomers retiring."

I'm kinda surprised that didn't start years ago, the general feeling I get is that Calpers has screwed over California taxpayers for far too long and at a certain point all pension fund recipients will end up getting screwed out of their benefits which given their historical greed seems only fair.