The audit of CalPERS investment performance in the fiscal year that ended last June 30th shows an annual return of 13.3 percent. That's almost two percentage points better than what the Fund reported in July, based on preliminary figures. The return is almost six percentage points higher than what CalPERS needs to average to fully fund retirements. While employer contributions will still go up because of recession losses... improved performance will take some of the sting out of those increases. All asset classes beat their market sector benchmarks except real estate, but even that asset class improved over the July report. The upturn for the 2009-10 fiscal year exceeded the long-term annualized earnings target of 7.75 percent and brought the 20-year return average through June 30, 2010 to 7.65 percent.
Read the full press release now.
CalPERS is working hard to ensure the retirement and health security of our members, provide help to our employers, and manage our investments to meet our long-term liabilities. We hope this information provides education, insight, and clarity.
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