Statement by Dave Low, Chairman of Californians for Retirement Security, Regarding California Pension Funds' Largest Gains in Years

July 18, 2011

For Immediate Release
July 18, 2011

SACRAMENTO -- California's two pension funds, CalPERS and CalSTRS, today reported their largest investment gains in years for the 2010-11 fiscal year. The CalPERS investment portfolio posted a 20.7 percent gain, its highest in 14 years. CalSTRS reported a 23.1 percent return, the highest in 25 years.

"These healthy returns at a time when the economy is struggling should put an end to the doom-and-gloom scenarios of politicians who want to take a wrecking ball to our state's pension funds," said Dave Low, chairman of Californians for Retirement Security. "While we support changes to clamp down on fraud and abuse and to end pension spiking, any drastic changes made at the ballot box will put these kind of investment returns, as well as retirement security for millions of Californians, at risk."

To read more about the funds' healthy returns, click here, or view more from CalPERS and CalSTRS.
Californians for Retirement Security is a coalition of more than 1.5 million public employees and retirees. The group’s executive committee includes: California Federation of Teachers; California Professional Firefighters; California School Employees Association; California Teachers Association; California Faculty Association; Orange County Employees Association; Peace Officers Research Association of California; Retired Public Employees Association of California; SEIU California, SEIU Local 1000 and AFSCME California.