Gavin Newsom: “You've seen almost 44, almost just high 44% growth at…”

“You've seen all these May revises. We've highlighted this. It's an important part of our long term fiscal health. And that begs the question, how's CalPERS doing compared to where we were? You've seen almost 44, almost just high 44% growth at CalPERS and the total funding. You've seen an increase in the funded liability. By the way, at CalPERS, we adjusted the discount rate down, which was important. So these are real numbers from the old 7% strs.” (30:34–30:41)

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