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Public pension funds eye weak investment returns
CalPERS' governing board during a 2013 meeting. (Photo: CalPERS board)Calpensions: The state’s two largest public pension systems never recovered from huge investment losses during the deep recession and stock market crash in 2008. CalPERS lost about $100 billion and CalSTRS about $68 billion. Now after a lengthy bull market, most experts are predicting a decade of weak investment returns, well below the annual average.