XPost: alt.politics.economics, alt.fan.rush-limbaugh, sac.politics
XPost: talk.politics.guns, soc.retirement

California�s largest public employee pension fund recovered from a spring
stock market plunge and notched its second-best investment return in a
decade, at least temporarily easing concerns about economic volatility in
the new Trump administration.

The California Public Employees� Retirement System announced today that it gained 11.6% on in its investments over the past financial year, eclipsing
its target of 6.8%.

That�s a critical number in California government government finance both because CalPERS funds retirement plans for some 2 million people and
because it charges government agencies more money to make up for losses
when it misses its annual investment target.

CalPERS saw a steep drop in its portfolio in April after President Donald
Trump announced tariffs against nearly every country. CalPERS lost about
$25 billion that month, but regained the value and then some as Trump put
off his most expensive tariffs and global markets adjusted to his tariff threats.

�Despite some market headwinds earlier in the year, our investment
strategy paid off,� CalPERS Chief Investment Officer Stephen Gilmore said
in a written statement. �The team remains poised to take advantage of investment opportunities as they develop and to strike the best possible
deals to boost returns and cut costs for the fund.�

As of today, CalPERS has assets worth about $558 billion, up from a low in early April of $508 billion. It is considered underfunded because its
portfolio is worth less than what it owes over time to California
government employees and retirees. CalPERS� gains over the last year
increased its funded status to 79%.

It had wild swings in investment returns since the coronavirus pandemic, hitting a 21.3% gain in 2020-21, followed by a 6.1% loss the following
year.

�In just two years, our investment returns have helped CalPERS increase
the funded status to nearly 80% and rebound from the economic effects of
the pandemic,� CalPERS Chief Executive Officer Marcie Frost said in a
written statement.

CalPERS� funded status is slightly lower than the national average,
according to Equable, a nonprofit organization that monitors state and
local government pension plans. It found the average funded ratio for
pension funds in 2024 was 80.2%.

CalPERS leaders and executives from other pension plans throughout the
year have warned about volatility in the new Trump administration,
including the risk of a trade war. Frost, at an April board meeting, said �current events here in the U.S. could have a serious impact on our
investment return� this year and next.

https://calmatters.org/economy/2025/07/calpers-investment-gain-after-
tariff/

--- SoupGate-Win32 v1.05
* Origin: fsxNet Usenet Gateway (21:1/5)