California’s pension fund for teachers missed its investment target for the last fiscal year, reflecting a global market downturn brought on by the coronavirus outbreak.
The California State Teachers’ Retirement System on Monday reported a 3.9% return on investments in the fiscal year that ended June 30, falling short of its 7% goal. The state’s largest pension fund for public employees, CalPERS, similarly came up short with 4.7% returns this year.
