Pension Plans Due for a Comeback?
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  • Andrew Allison

    VM recently wrote, “This is indeed good news for the fund, but these recent gains are not the lifeline Calpers (or California) needs. If QE were to continue
    forever and the S&P to keep hitting record highs,
    the fund might be able to stay afloat with double-digit returns every year. In reality, Calpers will be back where it started once the market
    comes back to earth.”
    So, which is it?

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