Terrence McGuire, who is a proxy for California Public Employees Retirement System Board Member, State Controller John Chiang, talks with board member Richard Costigan, during a meeting in

... more 

Terrence McGuire, who is a proxy for California Public Employees Retirement System Board Member, State Controller John Chiang, talks with board member Richard Costigan, during a meeting in Sacramento, Calif., Tuesday, Feb. 18, 2014. The board of the nations largest public pension agreed to Gov. Jerry Brown's request to accelerate the state's payments starting this summer, but cities counties and school districts' rates won't change until 2016. The board approved new assumptions for its pension system effectively increasing contribution rates. (AP Photo/Rich Pedroncelli)

less 
1 / 25
Associated Press
Wed, Feb 19, 2014 9:45 AM EST