The California Public Employees' Retirement System (CalPERS) has reported a preliminary net investment return of 11.6 percent for the 12-month period ending June 30, bringing the Public Employees’ Retirement Fund (PERF) total assets under management to approximately $556.2 billion.
The strong return beat the fund’s discount rate of 6.8 percent, which is comparable to an assumed rate of return established by the CalPERS Board of Administration. The return also surpassed the benchmark used to gauge the PERF’s performance by 1.7 percent.
As a result, the overall estimated funded status of the PERF increased to 79 percent. The funded status stood at 71.4 percent in 2023 and 75 percent in 2024.
“In just two years, our investment returns have helped CalPERS increase the funded status to nearly 80 percent and rebound from the economic effects of the pandemic,” said CEO Marcie Frost.
CalPERS previously reported a 9.3 percent return fo
