FYI: Public workers are pumping more money into retirement funds. Public agencies are pumping more money into retirement funds.
Yet the market seems distinctly unimpressed.
The California Public Employees Retirement System – the nation’s largest – lost about 2 percent of its market value in the fiscal year that just ended, according to unofficial numbers published last week on the CalPERS website. This came despite doubled-down efforts to beef up its bottom line.