Tag: Appropriate Discount Rate for Public Plans Is Not Simple

Photo of CalPERS headquarters by Coolcaesar at English Wikipedia

Silly articles don’t help the process. The New York Times recent article “A Sour Surprise for Public Pensions: Two Sets of Books” told the tale of the tiny six-employee Citrus Pest Control No.2 pension fund that thought it was overfunded but instead received a large bill when CalPERS calculated its termination liability.  The article has…