CalPERS, like other public pension funds, have fallen well short of their funding requirements. This has caused them to open up a little, in a way that is at least a start.
By investing in private equity and credit, we expect to be able to achieve 7% returns
Market turmoil has thrown a spotlight on the challenges that public pension funds face in delivering retirement security to public employees. The debate about how to meet obligations is important for policy makers, who worry that securing the benefits pensioners depend on will burden state and local governments—and future generations.
For most Americans these days, timing is everything when it comes to retirement.
CalSTRS adopted a new global equity investment policy to include the use of an active risk budget.
The investment committee of the $252.4 billion California State Teachers' Retirement System, West Sacramento, adopted the active risk budget to allow staff to move equity investments between passive and active management. CalSTRS had $128.5 billion in global equities as of Dec. 31.
The California State Teachers’ Retirement System posted strong returns for the six-month period ended December 31, a new plan document shows.
CalSTRS, which had a total of $254.1 billion invested as of December 31, returned 18.4 percent over the one-year time period, beating its benchmark by just under one percentage point.
A large move into equity factor investing was key for largest US pension.
The California Public Employees’ Retirement System took a more than $50 billion bet with its $177 billion stock portfolio and won. The bet helped beat volatile equity markets in the 12-month state fiscal year that ended June 30, show interviews and pension system investment committee documents.
The savings gap is a looming crisis, and states aren’t sure how to help.
For years, salon owner Luke Huffstutter, of Portland, Ore., wanted to offer his employees a way to save for retirement. Costs were too steep for the small company, though, and few employees took the initiative to set up 401(k) plans on their own.
Many seniors are stuck with lives of never-ending work—a fate that could befall millions in the coming decades.
CORONA, Calif.—Roberta Gordon never thought she’d still be alive at age 76. She definitely didn’t think she’d still be working. But every Saturday, she goes down to the local grocery store and hands out samples, earning $50 a day, because she needs the money.
CalPERS earned a 15.7% net return in 2017, besting its benchmark by 25 basis points, Chief Investment Officer Theodore Eliopoulos said at Monday's investment committee meeting.
Global equity, with a 24% net return, was the strongest performer for the $356.6 billion California Public Employees' Retirement System, Sacramento. The worst-performing asset class was the liquidity portfolio, which returned 1.2%.