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CalPERS

United States

The California Public Employees’ Retirement System (CalPERS or the System) is the nation’s largest defined benefit public pension fund. Headquartered in Sacramento, CalPERS provides retirement benefit services to nearly 2.1 million members and health benefit services to over 1.5 million covered lives for state, school, and public employers.

Fund Results

CalPERS

	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score 55	Rank 55	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank	Score	Rank
Overall	87	3	77	12	63	32	74	14	56	45	42	64	49	54	47	57	47	57	81	7	82	6	83	4	88	2	81	7	74	14	52	50	51	52	57	43	58	40	53	48	52	50	39	68	49	54	43	61	66	29	67	27	61	38	57	43	54	47	64	31	63	32	63	32	58	40	46	60	66	29	38	69	35	72	40	65	51	52	35	72	40	65	37	71	25	74	11	75	73	16	77	12	81	7	72	18	73	16	89	1	55	46	70	23	43	61	40	65	47	57	43	61	58	40	63	32	63	32	78	10	67	27	72	18	69	24	72	18	69	24	78	10	59	39	63	32	53	48	68	26	83	4	72	18	48	56	38	69	71	22
Cost	69	11	67	15	55	34	69	11	58	26	45	47	58	26	55	34	45	47	64	17	69	11	65	16	90	3	68	14	73	9	57	30	54	38	60	22	55	34	56	33	53	40	45	47	59	24	55	34	57	30	37	59	34	61	24	67	41	54	23	68	39	58	26	65	26	65	14	73	50	42	37	59	30	62	29	63	54	38	7	75	15	71	20	69	18	70	13	74	73	9	76	7	93	1	76	7	81	4	91	2	15	71	51	41	28	64	41	54	40	57	47	46	45	47	50	42	50	42	64	17	50	42	60	22	58	26	57	30	42	51	77	6	42	51	63	19	59	24	61	21	79	5	58	26	42	51	41	54	63	19
Governance	100	1	95	7	90	14	92	12	64	50	42	68	63	53	61	55	72	39	95	7	97	4	100	1	100	1	96	5	84	23	47	66	54	62	64	50	53	63	69	44	68	45	57	59	71	42	57	59	94	10	95	7	72	39	82	26	71	42	82	26	74	36	87	21	77	32	58	58	64	50	39	70	41	69	50	65	53	63	37	72	73	37	62	54	43	67	11	75	72	39	75	35	77	32	67	47	76	34	89	16	83	25	81	28	65	49	39	70	59	57	66	48	84	23	80	29	89	16	88	18	79	30	92	12	90	14	88	18	96	5	88	18	73	37	79	30	60	56	56	61	93	11	68	45	30	74	34	73	87	21
Performance	90	5	65	32	64	36	84	13	62	38	43	66	66	30	63	37	61	42	88	9	90	5	92	4	89	8	85	11	77	19	52	55	49	60	69	26	60	45	49	60	59	51	39	69	49	60	53	54	42	67	61	42	68	27	60	45	41	68	65	32	67	29	62	38	60	45	61	42	85	11	51	56	51	56	72	23	75	21	24	74	39	69	49	60	25	73	21	75	60	45	68	27	75	21	66	30	62	38	95	1	48	64	94	2	33	72	38	71	45	65	60	45	59	51	76	20	82	16	82	16	60	45	65	32	62	38	71	24	65	32	70	25	59	51	51	56	51	56	83	14	93	3	90	5	87	10	80	18	83	14
Responsible Investment	85	11	78	27	53	47	61	41	46	51	45	52	15	69	15	69	17	67	87	8	81	22	88	7	84	14	84	14	72	35	59	43	54	45	42	55	73	32	44	53	34	59	19	66	22	63	11	72	80	25	84	14	77	29	71	36	70	37	93	3	81	22	85	11	78	27	57	44	73	32	32	60	22	63	12	71	29	61	77	29	39	56	22	63	17	67	3	73	94	1	87	8	89	5	89	5	84	14	94	1	84	14	65	40	53	47	48	50	37	57	3	73	54	45	44	53	28	62	90	4	87	8	82	20	73	32	80	25	84	14	85	11	70	37	67	39	51	49	81	22	77	29	82	20	37	57	0	75	61	41

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Fund Insights

GPTB 2023: The funds that excelled

The highest scoring funds overall in the 2023 Global Pension Transparency Benchmark were also among the biggest improvers. Both Norway’s Government Pension Fund Global and AustralianSuper increased their scores by 14 points and were the biggest improvers in the top 10. Others included CDPQ, CalPERS, and PFZW.

CalPERS eyes the alpha opportunities in the green transition

The most compelling alpha opportunities in the transition come from investors buying assets in high emitting sectors and help them green. Brookfield Asset Management's Mark Carney, guest speaker at a recent CalPERS investment committee meeting, lays out the opportunity

CalPERS’ 2030 strategy centred on private market build

Private markets are the cornerstone of CalPERS’ 2030 goal and strategic destination which will include building capabilities inhouse for direct investing. A number of new appointments, including Daniel Booth and Anton Orlich, have boosted the skills in the team. Amanda White spoke to CIO Nicole Musicco.

CalPERS’ leadership trio on culture, mission and responsibility

CalPERS stands out among its global peers with three women leading the organisation as chair, CEO and CIO. Amanda White spent time (on zoom) with the group to find out what drives the leadership team and how collaboration and a shared mission are creating an innovative investment culture.