BUSINESSCALMATTERS
CalPERS just had one of its best years in a decade. Why it matters to taxpayers
CalPERS achieved a 14.8% investment return in the 2025-26 financial year, surpassing its 6.8% target and marking its best performance since 2014. The improved returns reduced its underfunded status to 85% of liabilities, easing pressure on government agencies and taxpayers to cover shortfalls.
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