CalPERS

CalPERS, the California Public Employees' Retirement System, is a state-managed pension fund that provides retirement, health, and other benefits to California public employees, including teachers, firefighters, and government workers. It manages contributions from employees and their employers, investing those funds to generate returns that support members' retirement needs. CalPERS aims to ensure financial stability for its members after they retire, while also overseeing healthcare programs. It is one of the largest public pension funds in the U.S., responsible for managing a substantial portfolio to meet its long-term obligations.