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The CalPERS, California Public Employees' Retirement System building in Sacramento, California.

The Board of Directors of the California Public Employees' Retirement System, known as CalPERS, is asking the state for $600 million to help provide benefits to its members. CalPERS is seeking the increase to make up for steep investment losses. With California going through it's own budget problems, Larry Mantle discusses this breaking story and what it means for the state.

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