CalPERS = Naughty, Still Gets PresentsAccording to CalPERS:
The California Public Employees’ Retirement System (CalPERS) today reported a 20.7 percent return on investments in preliminary estimates for the one-year period that ended June 30, 2011.
And the details:
As of June 30, 2011, the market value of CalPERS assets stood at approximately $237.5 billion. A year earlier, the fiscal year ended with $200.5 billion. Investment returns are based on compounded daily earnings over the year, including continuing member contributions and benefit payments, and don’t precisely correspond to one-year changes in market value.
And now for the fun part:
CalPERS’ value is down from its all-time peak of $247.7 billion on June 30, 2007 to $225.4 billion as of Sept. 8, 2011. That’s a decline of $22.3 billion, or 9 percent, in four years and three months. That includes employee contributions and state back-filling.