January 14, 2013
For Immediate Release
Monday, January 14, 2013
Californians for Retirement Security
Dave Low, Chair of Californians for Retirement Security, issued the following statement after CalPERS reported a 13.3% gain in invested assets in 2012:
"While these outstanding results should quiet pension critics that use inaccurate numbers and projections for political gain, we continue to believe that it is critical look at the long-term returns of investments by our state's pension systems, not the short-term. California's pension system are strong and will provide retirement security millions of state residents while minimizing taxpayer contributions to keep them adequately funded."