Calpers Achieves 14.8% Return in Fiscal 2026

The California Public Employees’ Retirement System (Calpers) announced a 14.8% investment return for its fiscal year ending June 30, 2026. This performance significantly surpassed the system's assumed rate of return of 6.75% for the period.

Stocks were a primary driver of this strong performance, with public equities contributing substantially to the overall gains. Private equity also played a crucial role, delivering robust returns that bolstered the fund's performance. Calpers manages investments for over 2 million public employees, retirees, and their families across California.

The fiscal year's results represent a notable recovery and growth for the pension fund. Calpers' investment strategy aims to balance risk and return to ensure the long-term solvency of the pension system. The system's total assets under management reached $473 billion as of June 30, 2026, up from $440 billion at the end of the previous fiscal year.

This strong performance in fiscal year 2026 is a positive indicator for the financial health of the pension fund. Calpers continues to navigate a complex economic landscape, with its diversified investment approach proving effective in generating substantial returns. The fund's asset allocation includes public equity, fixed income, real estate, private equity, and infrastructure.