California Public Employees' Retirement System

As one of the largest public pension funds in the United States, with assets totaling $211.1 billion as of April 2006, California Public Employees Retirement Systems investments span domestic and international markets. The CalPERS board of administration has investment authority and sole fiduciary responsibility for the management of the system's assets. The board is guided by the CalPERS Investment Committee, management and more than 180 staff in its investment office who carry out the daily activities of the investment program. CalPERS goal is to efficiently and effectively manage investments to achieve the highest possible return at an acceptable level of risk. CalPERS provides retirement, health and other related fiancial programs and benefits to more than 1.4 million public workers and their families, as well as more than 2,500 public employers.