Q: What is the
significance of “under-funding” of CalPERS?
A: Privatizers have taken a
snapshot of one year.
•At times the fund has been OVER-funded and at other times under-funded.
•Recently were over-funded by 123.5% allowing employers to cut
contribution by over $6.05 billion.
•Economic downturn led to increase in employer contribution
•Fund now bouncing back earning 23% in 2003 and increasing assets by $30.4