It may not be typical anymore but CalPERS is a defined benefit plan and the largest public pension fund in the US. [1] The problem is they bump up those benefi

It may not be typical anymore but CalPERS is a defined benefit plan and the largest public pension fund in the US. [1] The problem is they bump up those benefits when their fund is doing well but when it isn't doing well there's little or no adjustment. It's so big it's fund is influential in the market and also in politics. [1] https://en.wikipedia.org/wiki/CalPERS https://en.wikipedia.org/wiki/CalPERS