If you actually attended budget hearings for the department, you would actually hear from the horse's mouth that this is one of their main issues in increasing spending and FTEs.
well actually, the more public pension funds structurally underperform what the public asks them to do, the more capital they deploy to riskier investments like private equity. https://www.wsj.com/articles/calpers-wants-to-double-down-on-private-equity-11552834800 …