P-570

Public Sector Pension Plans in California: How Big Is the Problem?

“…Equity holdings by public-sector pension plans grew from approximately 40% to 60% during the 1990s. 13 This set the stage for the debacle that occurred after 2000. Fortunately, the financial markets have recovered and the pension plans examined in this article and, by extension, many others throughout the country, are on their way to recovery.…”