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Moody’s: CalPERS rate hike will be good for California

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A steep rate hike by California’s largest public pension fund will force cities to tighten their belts, but will make the state more financially stable, according to Moody’s Investors Service. “Despite the near-term pressure, in the long run, the increased contributions are likely to benefit both local governments and the state of California,” Moody’s said today, according to Reuters. The...

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