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CalPERS Board Approves Discount Rate Reduction From 7.75 Percent to 7.5 Percent

March 14, 2012

Today the full CalPERS board met and reviewed yesterday's recommendation from the CalPERS Pension and Health Benefits Committee to lower the discount rate from 7.75 percent to 7.5 percent. After debating the issue and the fiscal effects of a rate reduction on all levels of government, the board ultimately voted 9-1 to approve the lower rate of 7.5 percent. The board also requested that CalPERS Actuary Alan Milligan examine ways to blunt the fiscal hardship that will be experienced by local governments by phasing the rate change in over a period of two years.

 


 
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