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CalPERS votes to lower expected investment return rate to 7 percent by 2020

SAN FRANCISCO (Reuters) - The California Public Employees' Retirement System board voted on Wednesday to lower the pension plan's expected rate of return from investment to 7 percent by 2020, a decision that comes after the fund failed to meet its 7.5 percent target the past two years.

CalPERS votes to lower expected investment return rate to 7 percent by 2020
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