“Ensuring that our pension fund can meet its obligations is something that I take very seriously.”
In her recent op-ed for Capitol Weekly, CalPERS CEO Marcie Frost emphasized the value of a secure retirement for the public servants who’ve served the state of California throughout their careers. She shared the challenges we face as the nation’s largest pension fund to deliver on that promise, and she outlined our priorities for the future.
Marcie also revealed the personal motivation that drives her to ensure CalPERS meets its responsibility to our members and how we continue to take steps to build A Solid Foundation for the Future of the fund. We plan to be here to pay the benefits our members have earned for generations to come.
- Governor Gavin Newsom’s recently released state budget proposed to contribute an additional $3 billion to the CalPERS fund.
- We had more than 70 percent of the assets needed to pay benefits at of the end of the 2018 fiscal year.
- Our average annual return on investments over 30 years is 8.4 percent.
- In 2018, we invested more than $30 billion throughout the state, supporting more than 266,000 jobs.
We have an unwavering commitment to financial security in retirement. Our pension fund serves more than 1.9 million members, and we administer benefits for 1.5 million members and their families in our health program. We’re proud to serve those who serve California.