CalPERS is the nation's largest pension fund, administering pension and other benefits for employees of the state, 26 counties, and more than 1,500 other political subdivisions, including school districts. The system comprises 14 funds, including 5 defined benefit plans, 4 defined contribution plans, a health care trust fund and a long-term care fund. The Public Employees Retirement Fund provides coverage for more than 99% of all CalPERS active members. The other DB plans are for legislators and judges.
California Public Employees Retirement System Basics, by Plan
| Plan |
Assets (millions) |
Total Members |
| California PERF |
439,359.0 |
2,155,896 |
| Other Plans |
2,285.9 |
4,158 |
| Total |
441,644.9 |
2,160,054 |
Source: Public Plans Database (as of 2022)
Note: California Public Employees Retirement System has 3 other plans.
Assets
Assets at Year-End
California Public Employees Retirement System
2001-2022
| Fiscal Year |
Net Assets (billions) |
| 2001 |
156.5 |
| 2002 |
143.0 |
| 2003 |
145.0 |
| 2004 |
167.9 |
| 2005 |
190.0 |
| 2006 |
211.6 |
| 2007 |
251.6 |
| 2008 |
238.4 |
| 2009 |
179.7 |
| 2010 |
202.2 |
| 2011 |
242.5 |
| 2012 |
237.8 |
| 2013 |
263.0 |
| 2014 |
303.0 |
| 2015 |
304.0 |
| 2016 |
300.0 |
| 2017 |
328.0 |
| 2018 |
355.7 |
| 2019 |
374.4 |
| 2020 |
394.5 |
| 2021 |
479.9 |
| 2022 |
441.6 |
Membership
Ratio of Actives to Beneficiaries, 2001-2022
| Fiscal Year |
California Public Employees Retirement System |
US State and Local Pensions |
| 2001 |
2.0 |
2.4 |
| 2002 |
2.1 |
2.3 |
| 2003 |
2.0 |
2.2 |
| 2004 |
1.9 |
2.1 |
| 2005 |
1.9 |
2.1 |
| 2006 |
1.8 |
2.0 |
| 2007 |
1.8 |
2.0 |
| 2008 |
1.8 |
1.9 |
| 2009 |
1.7 |
1.9 |
| 2010 |
1.6 |
1.8 |
| 2011 |
1.5 |
1.7 |
| 2012 |
1.4 |
1.6 |
| 2013 |
1.3 |
1.5 |
| 2014 |
1.0 |
1.4 |
| 2015 |
1.4 |
1.4 |
| 2016 |
1.3 |
1.4 |
| 2017 |
1.3 |
1.4 |
| 2018 |
1.2 |
1.3 |
| 2019 |
1.2 |
1.3 |
| 2020 |
1.2 |
1.3 |
| 2021 |
1.1 |
1.2 |
| 2022 |
1.1 |
1.2 |
2022 Membership for California Public Employees Retirement System
| Actives |
Beneficiaries |
Inactive Vested |
Total Membership |
# of Participating Employers |
| 886,668 |
777,715 |
495,671 |
2,160,054 |
3,264 |
Cash Flows
Cash Flow vs. Total Assets (Millions)
California Public Employees Retirement System
2001-2022
| Fiscal Year |
Cash Flow |
Assets |
| 2001 |
-4,008.9 |
156,497.5 |
| 2002 |
-3,803.7 |
142,985.6 |
| 2003 |
-3,498.9 |
144,988.9 |
| 2004 |
-1,482.5 |
167,852.6 |
| 2005 |
181.0 |
189,958.1 |
| 2006 |
-461.2 |
211,561.3 |
| 2007 |
-807.1 |
251,567.3 |
| 2008 |
-672.4 |
238,394.3 |
| 2009 |
-1,586.8 |
179,710.3 |
| 2010 |
-3,047.3 |
202,213.8 |
| 2011 |
-3,719.7 |
242,515.2 |
| 2012 |
-4,510.9 |
237,833.1 |
| 2013 |
-5,252.2 |
262,961.8 |
| 2014 |
-5,765.1 |
302,962.9 |
| 2015 |
-6,124.1 |
304,011.3 |
| 2016 |
-5,788.8 |
300,035.8 |
| 2017 |
-5,403.2 |
328,020.3 |
| 2018 |
827.8 |
355,674.5 |
| 2019 |
-4,602.4 |
374,446.1 |
| 2020 |
1,142.1 |
394,490.3 |
| 2021 |
-3,588.8 |
479,904.5 |
| 2022 |
-1,853.0 |
441,644.9 |
2022 Cash Flows for California Public Employees Retirement System (millions)
| Inflows |
Outflows |
Investment Gains (losses) |
Change in Net Assets |
| 28,188.5 |
30,041.5 |
-36,406.5 |
-38,259.6 |
Cash Flow as a Percentage of Assets
California Public Employees Retirement System
2001-2022
| Fiscal Year |
California Public Employees Retirement System |
National Average |
| 2001 |
-2.6 |
-2.1 |
| 2002 |
-2.7 |
-2.4 |
| 2003 |
-2.4 |
-2.6 |
| 2004 |
-0.9 |
-2.0 |
| 2005 |
0.1 |
-2.2 |
| 2006 |
-0.2 |
-2.2 |
| 2007 |
-0.3 |
-2.1 |
| 2008 |
-0.3 |
-2.3 |
| 2009 |
-0.9 |
-3.1 |
| 2010 |
-1.5 |
-3.2 |
| 2011 |
-1.5 |
-3.1 |
| 2012 |
-1.9 |
-3.3 |
| 2013 |
-2.0 |
-3.1 |
| 2014 |
-1.9 |
-2.9 |
| 2015 |
-2.0 |
-2.8 |
| 2016 |
-1.9 |
-3.0 |
| 2017 |
-1.6 |
-2.9 |
| 2018 |
0.2 |
-2.6 |
| 2019 |
-1.2 |
-2.6 |
| 2020 |
0.3 |
-2.4 |
| 2021 |
-0.7 |
-2.1 |
| 2022 |
-0.4 |
-2.1 |
