CalPERS and CalSTRS are huge bureaucratic pits of inefficiency and political investing. It is a shame that California teachers have to rely on CalSTRS for their retirement pensions.
If you want to see what is, IMO, one of the best state employee retirement systems (that is nott high praise given the low level of the 49 competitors), WRS also allows the participants to allocate their accounts between a conservative CORE fund and a higher-risk variable return fund.
bar1080 may rightly critique the returns versus index funds, butt the real comparison is with other states and crapola like CalSTRS and CalPERS.
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