pension and health benefits for more than 1.6 million California public employees, retirees, and their families". In fiscal year 2007-2008, $10.88 billion was paid in retirement benefits, and in calendar year 2009 it is estimated that over $5.7 billion will be paid in health benefits.
CalPERS lost $69 billion (more than a quarter of its value) in the 2008 housing and stock market crash.
In 2010, the fund was 63% funded.
CalPERS is governed by a 13-member board. Six of them are union members.
- California Proposition 162, the "Pension Protection Act" (1992)
- Pension liabilities in California
- California Pension Reform