Calpers plan funding increases 6 percent in new fiscal year
(Corrects 6 percent increase to plan funding, not contribution rates)
April 14 (Reuters) - The California Public Employees' Retirement System will raise its funding for state and school employers by approximately 6 percent, the pension fund announced on Tuesday.
The increases, which will take place in fiscal year 2015-2016, are driven by payroll growth, salary increases and retirees living longer, Calpers said.
California's state contribution is estimated to increase by $487 million to $4.7 billion from the last fiscal year, while the schools' contribution will rise by $111 million to $1.3 billion.
(Reporting by Robin Respaut; Editing by Jonathan Oatis)
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