The future of Californias public pension system, the nations largest, will most likely include higher employer contribution rates that will depend on just how much return its investments generate.
Thanks to a decline in recordkeeping costs, fees paid to manage retirement investment accounts have seen another drop this year, a survey of defined contribution plan sponsors has found.
A state auditor's reprot found that the major reasons that the CalSTRS fund is in trouble include the boards inability to set employee contribution rates and poor investments returns caused by the Great Recession.