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In uncertain times, the mission of California’s pension funds is vital

Jul 21, 2020

Headline: In uncertain times, the mission of California’s pension funds is vital
Publication: calmatters.org
Article Date: July 11, 2020

The course of the COVID-19 pandemic and its long-term effect on the economy is unknown. Financial markets are unpredictable. In times like these, the mission of CalPERS is more vital than ever. It must provide for its 2 million workers and retirees the certainty of a secure retirement income. Read More…

Public pensions survived the Great Recession. They will survive coronavirus, too

Jun 12, 2020

Headline: Public pensions survived the Great Recession. They will survive coronavirus, too
Publication: Sacramento Bee
Article Date: April 19, 2020

History tells us that the markets will recover and that cycles of ups and downs are inevitable. But under a retirement-security system that relies upon individual accounts – 401(k)s – many of those whose retirement coincides with a down cycle will not be around long enough for their savings to fully recover.

There is a way to flatten to curve. They’re called pensions – collective retirement savings systems into which workers of all ages and their employers contribute and which have professionally managed, diversified investments. They are built to withstand the extremes of economic cycles. Read More…

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