Editorials

July 15, 2014 12:00 AM

Editorial: CalPERS remains in a deep hole despite big return

California’s $300 billion public employee pension fund reported the upbeat news that its rate of return exceeded 18 percent in the fiscal year that ended last month. But happy days are hardly here again for the California Public Employees’ Retirement System, or for taxpayers who must make good on government pensions.

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