Study Shows Pension Funds' Refusal to Divest From Fossil Fuels Cost Retired Teachers, Firefighters, and Public Workers $19 Billion
CalPERS built on 7% annual return. Hah!
Illinois was at 8% and failed so darn badly that their bonds are junk. Chicago bonds many have received a better grade with new mayor.
For more on California, I offer this long " I told ya so" article by Yves Smith.