CalPERS Investments Strong Despite Dour Economy
The CalPERS retirement and benefits system for former and current California state employees is riding out the economic storm with confidence.
Thursday, January 8, 2009
The national recession and state budget crisis in California put CalPERS in a precarious position.
CalPERS is the organization that manages a multi-billion dollar pension and investment portfolio for past and present state workers in California.
It’s the largest retirement fund of its kind in the nation.
So, what’s being done to protect CalPERS investments as the economy teeters on the edge?
Patricia Macht is with CalPERS public affairs office and she says not to worry about solvency of the fund…for now…
(Capital Public Radio's Steve Shadley speaks with Patricia Macht of CalPERS. Interview runs four minutes :40 seconds)
Incue: “…we have 1.6 million members…”
Outcue: “…Thank you…Thank you…”
Patricia Macht is with the community relations office for CalPERS…the California Public Employees Retirement System.
Tomorrow morning (Friday, January 9, 2009) we’ll explore the Governor’s proposal to change how CalPERS manages state employees’ health care benefits…and what that would mean for millions of workers and retirees.