Calpers announced recently that it returned just 0.61% during the fiscal year that ended June 30th, falling well short of it’s goal of a 7.5%, meaning that the fund will lose ground in its efforts to earn enough to make good on its promises to retirees.

Right now, the fund has 68 cents in assets for every dollar in liabilities, assuming that it continues to earn returns of 7.5% per year, though it has failed to do that for two years in a row.

Source: Fortune.com