CalSTRS staff proposed dropping the $91 billion fund's return...

CalSTRS staff proposed dropping the $91 billion fund's return assumptions by 50 basis points for each asset class. If adopted by the investment committee of the California State Teachers' Retirement System, Sacramento, the new policy would lower expected returns on U.S. and international equities to 9.25%, fixed income to 5.75%, TIPS to 5.25%, cash to 4.5%, real estate to 7.5%, and private equity to 12.5%. The committee will meet Dec. 4.