California's massive public employee pension system gained more than 13% in investment returns last year, most of it from stocks and real estate, the agency said.
It was the best year for the California Public Employees' Retirement System since 2006, when the fund gained 15.7%. CalPERS investments were up 1.1% in 2011 as it struggled to regain its footing after the Great Recession.
With more than $250 billion in assets, CalPERS is the largest public employee pension fund in the U.S. The agency administers retirement benefits for more than 1.6 million current and retired state, school and local government employees and their families.
Read more at the LA Times