The Contra Costa Taxpayers Association is a non-profit, non-partisan organization dedicated to promoting accountable, cost-effective and efficient government and opposing unnecessary taxes and spending.
A lot of publicity has gone to CalPERS and its pitiful 1% rate of return. CCCERA is using a 7.75 expected rate of return when for 2011 it earned 2.7%, the 5 year average is only 2.4%, and the 10 year average is 6.2%. Retaining that 7.75% rate of return will push more expenses to the governments in CCCERA including the county and ConFire. That will mean dollars that would go to services will be directed to pension payment.