Talking about CalPERS, CalSTRS funding levels plunge « Calpensions

 

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CalPERS, CalSTRS funding levels plunge – A decade ago, when the stock market was booming, the funding levels of CalPERS and CalSTRS were both over 100 percent, a projection that assets would be more than enough to meet pension costs in the decades ahead. Now the funding levels of the nation’s two largest public pension funds have dropped below what some regard as the acceptable minimum, 80 percent, and for different reasons are not likely to bounce back anytime soon. Reflecting heavy losses in the historic stock market crash and other investments, a new report says the funding level of the California State Teachers Retirement System dropped to 77 percent last June — 58 percent without “smoothing” that spreads out losses.

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