By investing in private equity and credit, we expect to be able to achieve 7% returns

Market turmoil has thrown a spotlight on the challenges that public pension funds face in delivering retirement security to public employees. The debate about how to meet obligations is important for policy makers, who worry that securing the benefits pensioners depend on will burden state and local governments—and future generations.

Read more: https://www.wsj.com/articles/calpers-prepares-for-the-long-haul-11592164054