What is CalPERS and what does it do?

The California Public Employees Retirement System, commonly known as CalPERS, is a state agency that manages pension and health benefits for public employees in California. CalPERS is one of the largest public pension funds in the United States and serves a diverse membership that includes employees from city and county governments, school districts, and various state agencies. The primary function of CalPERS is to provide retirement benefits to eligible members, ensuring a secure financial future after their careers in public service. In addition to managing retirement benefits, CalPERS administers health insurance programs for retirees, offering a variety of plans to meet their health care needs. The organization also invests in a wide range of assets, including stocks, bonds, real estate, and infrastructure, with the aim of growing the fund's value to pay for future benefits. Furthermore, CalPERS plays a significant role in advocating for environmental sustainability, social responsibility, and corporate governance among the companies in which it invests. For detailed information about CalPERS services, benefits, and investments, individuals may refer to the official CalPERS website.