Photo 3 of 3

View all

PODCAST: Palo Alto's pension problem
This graph shows the 10-year Treasury yield (orange line) and the CalPERS discount rate (blue line) against time. CalPERS is assuming a continued rate of return of 7 to 8 percent, even though interest rates have been falling since the 1980s. See a larger version of this graph at http://www.paloaltoonline.com/news/reports/1507940086.pdf Graphic by J. Bulow, Stanford GSB, courtesy of Eric Filseth.

© 2018 Palo Alto Online.
All rights reserved.