Another CA pension fund falls short of investment target after coronavirus downturn

Image by Gerd Altmann from Pixabay.

California’s pension fund for teachers missed its investment target for the last fiscal year, reflecting a global market downturn brought on by the coronavirus outbreak.

The California State Teachers’ Retirement System on Monday reported a 3.9% return on investments in the fiscal year that ended June 30, falling short of its 7% goal. The state’s largest pension fund for public employees, CalPERS, similarly came up short with 4.7% returns this year.

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