Department of Corrections

The Federal Thrift Savings Plan, the nation’s largest public pension fund, is a defined contribution plan, not a defined benefit plan, as reported in a March 19 Capitol Weekly story about pensions.

Clarification: The March 19 story said that more than “l00 local governments” participate in the system. CalPERS said “more than 2,600 public and school agencies” currently participate. CalPERS also said that no decision has been made regarding the state’s employer-contribution rate for the 2009-10 fiscal year.

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