SACRAMENTO, Calif. >> California’s largest pension system downgraded its expectations for investment earnings Wednesday, a decision that will require state government agencies to contribute more tax dollars to retirement benefits for public employees.

The decision by the board of the California Public Employees’ Retirement System is a reaction to long-term financial pressures and lower projected returns on global investments over the next decade.

CalPERS will assume investment earnings of 7 percent per year, down from 7.5 percent, over the next three years, and will give government agencies an additional five years to absorb the higher payments. (The Hawaii Employees’ Retirement System made a similar investment target decision earlier this month to go into effect July 1).

Pilots begin strike at Korean Air

Air travelers in South Korea are bracing for disruption to their year-end plans as Korean Air Lines Co. pilots kick off their first strike in more than a decade.

The stoppage by 189 pilots, approximately 7 percent of the carrier’s total, will lead to about 147 round-trip flights being canceled starting Thursday through Dec. 31, according to the Transport Ministry. The halted services mean Korean Air will be operating 93 percent of its flights during the 10-day strike period, the ministry said in an emailed statement Wednesday.

The strike, the first by Korean Air pilots since 2005, won’t cause any major disruption because the cancellations don’t include North American and European routes, he said.

ON THE MOVE

Kauai Island Utility Cooperative has promoted Maile Alfiler to member services manager. She was previously a member services operations supervisor for 11 years. In 1990, Alfiler joined Kauai Electric and served in various departments, including information technology, accounting and member services.

The Rotary Club of Ala Moana honored Laura Kumamoto, an Emergency Medical Services supervisor, with the 2016-2017 Vocational Public Service Award during a recent annual holiday event for the club. She was chosen from among 270 EMS employees. Kumamoto has worked for EMS for 22 years, having served as an emergency medical technician, paramedic and supervisor of the Young Street unit.

G P Roadway Solutions has hired Faith Scevers as its outside environmental salesperson. Her responsibilities will include working closely with companies on Oahu to help with their ground stabilization, environmental compliance and storm water management. Scevers previously worked with UniFirst Corp.