California Public Employees' Retirement System
CalPERS is the nation's largest public pension fund, providing retirement and health benefits to California public employees.
Last updated September 15, 2026
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Overview
The California Public Employees' Retirement System (CalPERS) describes itself as the nation's largest public pension fund, ensuring members' benefits and earned retirements. It is governed by a 13-member Board of Administration whose composition is mandated by law. CalPERS provides retirement benefits and health plans, runs open enrollment periods, and operates regional offices. Its Corporate Governance program works to ensure the public companies it invests in are managed to generate long-term, sustainable investment returns, and it partners with organizations such as the Carbon Disclosure Project, Climate Action 100+, and the Principles for Responsible Investment.
Products and positioning
The nation's largest public pension fund
Product categories. Retirement benefits · Health plans
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