Today, CalPERS reported that their preliminary net return on investments for the 2019-2020 fiscal year was 4.7%.
Based on this return, CalPERS reports that the overall funded status of the retirement fund is 70% (based on a 7% discount rate). The fund has total assets of approximately $389 billion.
This return will cause participating districts' contributions to rise with the effects being felt by local public agencies in the 2022-2023 fiscal year. Districts are encouraged to review available strategies to manage these new costs.
To provide assistance, CalPERS is hosting a webinar next week for public agencies. The webinar will feature CEO Marcie Frost, and other leaders, and will cover these topics:
- The preliminary investment returns;
- The current state of play in the investment markets;
- CalPERS' new investment strategy;
- Impacts and projections for employer costs;
- Options for employers; and
- A question-and-answer session.
The details of the webinar are
Title: CalPERS and Employers: Fiscal Year Returns, Cost Impacts and Our Path Forward
Date: July 21, 2020 9:00-10:30am
Registration Link: https://event.on24.com/eventRegistration/EventLobbyServlet?target=reg20.jsp&referrer=&eventid=2464157&sessionid=1&key=6F1DD8609F63F2B739D1403EAA4A939B®Tag=&sourcepage=register#AdvocacyNews#HumanResources#PensionsandRetirement