By Dale Kasler
Published: Tuesday, Jan. 15, 2013 – 12:00 am | Page 6B
Last Modified: Tuesday, Jan. 15, 2013 – 8:28 am
Boosted by stocks and real estate, CalPERS’ investments bounced back strongly last year.
The big pension fund said Monday it earned a 13.3 percent profit on its portfolio in calendar 2012.
That’s significantly higher than the California Public Employees’ Retirement System’s official investment forecast of 7.5 percent.
It’s also a major improvement on the fiscal year that ended last June 30, when CalPERS earned just 1 percent.
The $252 billion pension fund’s investment returns are crucial to the finances of state and local governments. The more money it earns, the less likely it is to press its member agencies for higher annual contributions. The state contributes around $3.5 billion a year to CalPERS.
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