CalPERS at a glance

Pension fund The California Public Employees’ Retirement System is the largest public pension fund in the nation. Based in Sacramento, the fund -- known as CalPERS -- provides retirement benefits for 1.6 million active and inactive state and local government workers, retirees and their families. It also manages healthcare benefit programs for 1.3 million people.* Overseen by a 13-member board of administration. Some board members are elected by state workers and retirees; others are appointed. Several state office holders are also on the board. Board president (chosen by board members): Rob Feckner, elected by school district employees. * Staff of 2,315. Chief executive: Anne Stausboll.* Created by the state Legislature in 1932, the fund currently has an investment portfolio of $203 billion in stocks, bonds, real estate, private equity, commodities and infrastructure investments.* Pensions are based on a member’s years of service, age and highest level of compensation. The average monthly pension benefit is $2,101.* About three-quarters of the cost of pensions are covered by income on the funds’ investments, and one-quarter comes from employer and employee contributions.Source: CalPERS