US - The California Public Employees' Retirement System (CalPERS) will in future smooth market gains and losses over 15 years and widen the corridor limits for establishing actuarial value of assets to 80-120% of market value.
CalPERS’ board said it adopted the new policy as a means of providing employers with “relief” from the unpredictable costs in pension contributions. The $180bn pension fund previously smoothed gain...
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