{"id":654997,"date":"2013-04-29T13:48:09","date_gmt":"2013-04-29T17:48:09","guid":{"rendered":"http:\/\/www.pehub.com\/?p=198939"},"modified":"2013-04-29T13:48:09","modified_gmt":"2013-04-29T17:48:09","slug":"calpers-investments-surpass-prior-record-high","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/654997","title":{"rendered":"Calpers Investments Surpass Prior Record High"},"content":{"rendered":"

The value of investments held by the California Public Employees’ Retirement System<\/strong> rose to $261.7 billion as of Friday, putting it above its previous high in 2007 before the financial crises and recession sent it tumbling, Reuters reported.<\/p>\n

(Reuters) – The value of investments held by the California Public Employees’ Retirement System<\/strong> rose to $261.7 billion as of Friday, putting it above its previous high in 2007 before the financial crises and recession sent it tumbling.<\/p>\n

The assets sank to a recession low value of $164.9 billion in February 2009 from a record of $260.5 billion in October 2007, said Joe DeAnda, a spokesman for the fund, which is best known as Calpers.<\/p>\n

DeAnda attributed the recovery primarily to Calpers’ stock portfolio. The fund has about half of its money in stocks. But “just about everything has improved,” DeAnda said.<\/p>\n

Since 2009, officials at Calpers, the biggest U.S. public pension fund have been working to put its finances on stronger footing, including by adopting a more conservative annual return target of 7.5 percent last year, down from a previous and longstanding 7.75 percent.<\/p>\n

Lowering the rate has the effect of requiring public agencies, including local governments, using Calpers to manage pension accounts to increase payments to it.<\/p>\n

Additionally, the fund’s board earlier this month approved accounting changes that will require state agencies, cities and counties to pay rate increases to Calpers of up 50 percent.<\/p>\n

The new policy will phase in increases. While they may strain government employer’s finances, they will fully fund Calpers’ obligations in 30 years.<\/p>\n

Calpers is about 70 percent funded. The retirement system estimates its unfunded liability was about $100 billion at the end of June 2012.<\/p>\n

The post Calpers Investments Surpass Prior Record High<\/a> appeared first on peHUB<\/a>.<\/p>\n

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<\/p>\n","protected":false},"excerpt":{"rendered":"

The value of investments held by the California Public Employees’ Retirement System rose to $261.7 billion as of Friday, putting it above its previous high in 2007 before the financial crises and recession sent it tumbling, Reuters reported. (Reuters) – The value of investments held by the California Public Employees’ Retirement System rose to $261.7 […]<\/p>\n","protected":false},"author":7426,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-654997","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/654997","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/7426"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=654997"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/654997\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=654997"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=654997"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=654997"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}