Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
CalPERS keeps 6.8% discount rate; actuarial assumption updates raise modest contribution expectations for some plans
Summary
CalPERS confirmed a 6.8% funding discount rate and adopted modest actuarial assumption changes — including raising inflation to 2.5% and salary‑scale adjustments — that staff project will slightly reduce funded status and modestly raise required contributions for many plans; PEPRA impacts are concentrated and timing of changes was detailed.
CalPERS staff told stakeholders the board confirmed a 6.8% discount rate for funding valuations while adopting modest actuarial assumption updates that will slightly raise contribution expectations for many plans.
Chief Actuary Scott Turandell summarized the actuarial experience study, saying the valuation discount rate remains "6.8%" and that staff raised long-term price- and wage-inflation assumptions from 2.3% to 2.5% to reflect recent inflation dynamics: "we felt we needed to bring up our current assumptions at least at 2.5%." He said most…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
