California Public Employees Retirement System

California Public Employees' Retirement System (CalPERS) is a defined-benefit public pension fund based in Sacramento, California. Established in 1932, CalPERS provides retirement benefits for state employees. It manages the retirement and health benefits of public employees, retirees, and their families. The assets of the pension fund are managed by the board members. Further, the board members are assisted by the finance and investment committee for managing the investment assets.