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Getting more realistic on L.A. pension returns
Getting more realistic on L.A. pension returns

In the last year, all three of Los Angeles' public employee pension funds have recalculated their too-rosy estimates of how much they will earn in the years ahead. Those lowered earning forecasts may cost the city in the short term — if it has to deposit more money into the funds now rather than counting on the market to earn the money later. But over the long term, the more conservative assumptions will help ensure that there is enough money to cover the city's pension promises. The three funds, which provide pension benefits and retirement healthcare for police officers, firefighters, civilian workers and Department of Water and Power employees, will now assume an...

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