April 8, 2020

CalPERS loses $69 billion in biggest market losses since Great Recession

The pot of invested money used to pay for hundreds of thousands of California public employee pensions has shrunk by $69 billion as coronavirus has squeezed global markets.

The California Public Employees’ Retirement System’s fund balance stood about $335 billion Thursday, down from a record high of $404 billion one month ago, according to CalPERS officials.

The California State Teachers’ Retirement System likely experienced similar losses, but the system doesn’t publicly report its value as often as CalPERS does. Its value stood about $243 billion at the end of February.

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