CALPERS PORTFOLIO SOARS; ROBUST RETURNS MEAN LOWER BURDEN ON TAXPAYERS FOR BENEFITS.Byline: Enrique Rivero Daily News Staff Writer For the fourth consecutive year, the California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). Public Employees' Retirement System's investments last year realized double-digit returns - which means that California taxpayers will have to pay less toward the retirement plan of millions of public employees. The system's portfolio earned an 18.5 percent return on its investments last year, bumping Bumping can refer to:
prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a study released this week by the Trust Universe Comparison Service, which provides information on investment risks. CalPERS' portfolio is the nation's largest pension fund. In addition to being the retirement fund of most state employees, municipalities from across the state participate in the fund. Retirement benefits for public employees come from three sources, said CalPERS spokeswoman Patricia Macht: contributions from employers, employees and investment income. By law, the employees' contribution is fixed, she said. So, the higher the return on investment, the less the employer - the publicly funded government agency - has to contribute to the fund. ``That's less that the taxpayers have to give to cover the cost of government,'' Macht said. ``The public likes to hear this news because it signifies that less public dollars will be required to finance those benefits.'' The study shows that the system has a good investment track record, which the CalPERS board was expected to use at its annual workshop Friday in deciding how to allocate To reserve a resource such as memory or disk. See memory allocation. its funds for the coming year, she said. The funds would go into stocks, bonds, real estate and into what CalPERS calls alternative investments such as private equity funds, venture capital and the like, she said. ``It's an important piece of information going forward . . . for making their allocation The apportionment or designation of an item for a specific purpose or to a particular place. In the law of trusts, the allocation of cash dividends earned by a stock that makes up the principal of a trust for a beneficiary usually means that the dividends will be treated as decisions for the next year,'' Macht said about the TUCS TUCS Turku Centre for Computer Science (Finland) TUCS Trust Universe Comparison Service (investing) TUCS Triplicane Urban Cooperative Society (India) report. ``It's one piece of information that they use to consider future asset allocation Asset Allocation The process of dividing a portfolio among major asset categories such as bonds, stocks or cash. The purpose of asset allocation is to reduce risk by diversifying the portfolio. .'' |
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