CalPERS Looking at More Rate Hikes to Guard Against Losses in the Next Recession

Unless it alters its current funding structure, CalPERS will be even more vulnerable to market losses in the next economic downturn than it was during its devastating plunge in the Great Recession. . . Most of the CalPERS governing board members recognize the adjustments are needed, but they have yet to determine the details and price. They’re trying to temper the impact on state and local governments, which already face pension rate increases of roughly 35 percent to 50 percent over the next six years from the three prior calculation changes.

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